Get 40% Off
👀 👁 🧿 All eyes on Biogen, up +4,56% after posting earnings. Our AI picked it in March 2024.
Which stocks will surge next?
Unlock AI-picked Stocks

Playtech says still in the market for acquisitions

Published 27/08/2015, 11:25
Updated 27/08/2015, 11:25
© Reuters.  Playtech says still in the market for acquisitions

(Reuters) - Playtech Plc (LONDON:PTEC), an online gaming and betting software provider founded by Israeli billionaire Teddy Sagi, is looking for more acquisitions to add to the three it has already made this year.

"We definitely intend to continue considering certain additional M&A opportunities going forward, for both gaming and online (contract-for-difference) trading," Chief Executive Mor Weizer told Reuters.

The betting sector has seen a trend of consolidation this year as companies try to combat higher tax bills and tighter regulation in Britain and compete better in a market buoyed by the increasing use of mobiles and tablets.

Playtech, which counts Betfair Group Plc (LONDON:BETF), William Hill Plc (LONDON:WMH) and Paddy Power Plc as its licensees, earlier this year forayed into the forex trading market by buying a majority stake in TradeFx.

The company strengthened its hand by then snapping up Plus500 Ltd and Ava Trade.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.