Australian Aristocrat Leisure places $ 2.9 billion bet on online gaming provider Playtech By Reuters
(Reuters) – Aristocrat Leisure Ltd of Australia announced Monday that it will acquire gaming software provider Playtech Plc (LON 🙂 for 2.1 billion pounds ($ 2.89 billion), offering new areas of growth for the slot machine maker, including real money games.
Shareholders of London-listed Playtech are offered 680 pence per share, a premium of 58.4% over the company’s closing price on Friday.
Aristocrat said the board of directors of Playtech and its largest shareholder with a stake of around 21% supported his offer.
Playtech, however, was not immediately available for comment outside of regular business hours.
“The company will be uniquely positioned to create sustainable shareholder value by seizing opportunities in the rapidly growing global segment of online RMGs as they continue to open up, particularly in North America,” said Aristocrat CEO Trevor Croker.
The Australian company said it will fund the deal with a fundraising of A $ 1.3 billion ($ 964.21 million), as well as new debt and existing cash.
The company added that the deal would increase profits from the first year.
($ 1 = 0.7273 pounds)
($ 1 = 1.3483 Australian dollars)
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