Playtech Buys Out Ash Gaming

01/30/2012
By Tommie ClarkGoogle

Gaming software development giant Playtech has announced that it is purchasing leading interactive gambling supplier Ash Gaming.  This past July, Playtech signed a deal with Gala Coral to be their sole online casino software provider for ten years.  Shorty thereafter, all of Gala Coral’s other suppliers had to cease there services.  Ash Gaming is one such company.  Now Playtech is buying out Ash for 23 million pounds.  Once the acquisition of Ash Gaming is complete, it will be Playtech’s fourth takeover this year alone, bringing their total number of buyouts to ten. 

 

Ash Gaming was established nine years ago by Chris Ash and is headquartered in London.  The company grew to a forty-person firm earning 2.6 million pounds a year as of 2011.  The deal between Playtech and Ash Gaming is that Playtech will pay 7.5 million pounds up front, and the remainder will be paid out over the course of the following three years depending on results.

 

Playtech’s CEO Mor Weizer stated that he is very excited about the newest acquisition.  He said that Ash Gaming as a great reputation, delivers top online casino products, and has an impressive client base including Virgin Games.  Weizer added that Playtech’s development team is familiar with Ash’s and is looking forward to working together.  Playtech also plans to bring some of the Ash-developed games to the Playtech affiliate platforms.  Popular Ash casino games that one can expect Playtech to adopt include the X-Factor, Midas Millions, and Madness House of Fun.  Weizer further commented that he expects the added game content to increase Playtech’s earnings and revenue.  According to the London Stock exchange he seems to be right because Playtech’s stock rose 1% on the strength of the announcement alone. 

 

 

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