Playtech Looking to Raise £100 Million

01/06/2012
By Pamela PattersonGoogle

Leading gaming software development company Playtech Limited has announced that they are looking to raise £100 Million via public stock offering.  In a move to attract investors, Playtech is providing very good conditions for the deal.  They are placing 46,511,627 placing shares at a price of 215 pence per share which is about a 2.5% discount from the regular share price.  Furthermore, the entire IPO has been underwritten by Brickington Trading.  The real icing on the cake for investors is the dividend offered – 40% of annual of profits per fiscal year.

 

In light of the current success in the online gaming market around the world, it is no surprise that Playtech is looking to grow.  Financial analysts point out that Playtech needs the extra capitol in order to keep its current status as a world leader in software development for online casinos. 

 

The company underwriting the IPO, Brickington Trading, is Playtech’s biggest shareholder.  Brickington, the investment firm of Playtech’s founder Teddy Sagi, currently is in possession of 40.3% of Playtech.  At the end of the offering, Sagi will have just under half of Playtech’s stock in his possession.

 

One of the moves expected of Playtech upon attaining the capitol is acquisitions in the field of gambling software.  Just like Playtech’s purchase of Mobenga, the mobile gaming software development, one can expect even more such acquisitions in the future.  Some expect the breadth of the acquisitions to reach £40 million.  Considering the positive momentum enjoyed by the online gaming industry, Playtech has plenty of room for growth. 

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