Playtech claims its latest acquisition of Best Gaming Technology will enhance its omni-channel offering.
[dropcap]P[/dropcap]laytech has announced that it has acquired Austrian betting software provider Best Gaming Technology for E138m. The consideration was paid from Playtech’s existing cash resources.
Headquartered in Vienna, BGT was founded in 2005 and is the leading provider of sports betting software and solutions for gaming and sports-betting operators. Its customer base includes, amongst others, some of the most well established bookmakers in the UK and Spain, such as Betfred, Codere, Coral, Ladbrokes, Paddy Power Betfair and William Hill.
BGT’s main product is its proprietary software for self-service betting terminals (SSBTs). Its offering combines class-leading technology with a digital terminal that revolutionises the traditional over-the-counter experience, at times generating more than double the volumes of other SSBT providers. Other products include ePOS and till systems for betting operators and an omni-channel web and mobile betting platform. In addition to supplying many of the most profitable bookmakers in the UK, the acquisition will provide Playtech with greater penetration into the Spanish and Italian markets with several significant potential new customers in the pipeline.
Playtech has acquired 90 per cent of the issued share capital of BGT, with the remaining 10 per cent retained by BGT founder and CEO Dr. Armin Sageder.
We believe that the future of gaming is for retail operators to digitise their offering, creating a simple and intuitive experience for customers as well as creating an opportunity to extend beyond retail and into online, including web and mobile
In 2015, BGT generated revenues of E41.6m, with all of these revenues coming from regulated markets – and over three quarters of revenues coming from the SSBT software segment. BGT generated adjusted EBITDA of E12.9m in 2015 and E12.5m of adjusted EBITDA in the first six months of 2016. In 2015, BGT generated profit before tax of E6m and had gross assets of E35m as at the year end.
“We believe that the future of gaming is for retail operators to digitise their offering, creating a simple and intuitive experience for customers as well as creating an opportunity to extend beyond retail and into online, including web and mobile,” remarked Playtech CEO, Mor Weizer.
“This follows the same trends we see in other commercial sectors around the world with the modernisation and digitisation of betting shops not only improving the retail experience but also adding a whole new channel as it integrates into an online offering.”