iGaming Industry
Playtech completes $150M ACM assets acquisition
UK gaming technology provider Playtech PLC announced that it has completed the acquisition of market maker ACM Group Limited with a price tag of US$150 million.
In a regulatory filing on Monday, Playtech said that the completion of ACM’s acquisition will pave the way for the creation of its new TradeTech Alpha brand.
“Alpha will deliver a bespoke risk management and trading solution to B2B customers,” the group said in statement.
Playtech’s acquisition of Alpha signals its expansion into the institutional FX space, and services to FX brokers and white label operators.
The company initially made a $5 million up-front payment which was to be followed by two staged payments based on 1 x EBITDA of 2017 and 2018; and contingent consideration based on 5.2 x 2019 EBITDA, minus the initial payment and 2017 and 2018 payments, with the total consideration capped at $150 million.
According to reports, Playtech will be absorbing the Alpha management team, led by Muhammad Rasoul. Rasoul was the CEO of Alpha who steered the company from the beginning.
Data showed that Alpha’s revenue grew by 266 percent to £21.9 million ($29.08 million) over the last 9 months. Rasoul credited the more-than-double earnings to the acquisition of new institutional clients.
On the other hand, PlayTech’s revenue grew by 30 percent to €421.6 million ($105.2 million) in the first half of 2017 when compared to the previous year. Net profits surged by 21 percent to €89.6 million ($105.22 million).
The online gaming software supplier has been in a shopping spree over the past months as it tries to expand its software offering to B2B customers.
In November 2016, PlayTech purchased financial trading systems developer Consolidated Financial Holdings A/S (CFH Group) in November 2016 for $120 million. Looking forward, PlayTech has expressed optimism on its growth, saying it will make further acquisitions given the right opportunity.…
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Source: EEGaming.
BetConstruct, a global leader in the iGaming industry, is going to showcase its cutting-edge solutions at the highly anticipated Global Gaming Expo (G2E), taking place from October 7-10.
As the premier event for the global gaming industry, G2E serves as a hub for innovation, driving growth by bringing together industry professionals from around the world to foster business opportunities.
Taking place at The Venetian Expo in Las Vegas, this all-in-one event features both an education program from October 7-10 and an expansive expo hall running from October 8-10.
BetConstruct’s stand is 5230, where the team will showcase an exciting range of products, including the newly launched the Last Battle, a novel loyalty system that is the byproduct of BetConstruct’s commitment to innovation. The company will also demonstrate its comprehensive Sportsbook and Casino Suite, along with DECA, its next-level decentralised casino platform, and Umbrella, an AI-powered risk management solution. These offerings are designed to meet the needs of a diverse range of operators, ensuring seamless and engaging experiences for players across the regulated market.
Amusnet has announced its participation in the 23rd edition of G2E Las Vegas (Global Gaming Expo) at The Venetian Expo from October 7-10. As one of the largest expos globally, G2E provides a platform for the company to showcase products across its Online Casino, Live Casino, and Land-based verticals, positioning Amusnet as a prominent all-casino provider in the competitive iGaming industry.
“We are excited to attend G2E Las Vegas 2024 to present our latest online casino portfolio and Type S slot cabinets: our first-ever product series for Land-based casinos, designed to offer a competitive edge by combining Amusnet’s top-notch game portfolio with an immersive player experience. Our focus is on delivering solutions that maximize performance and cater to the evolving needs for both online and land-based casinos,” said Borislav Marinov, Head of Business Development, Land-based, at Amusnet.
Alongside its technical excellence, the premium Type S series showcases the company’s award-winning titles, including 20 Golden Coins, Extra Crown, Fruits & Gold, and Cocktail Rush. It also features Amusnet’s popular four-level bonus game, Jackpot Cards, along with other exciting features like Free Spins, Buy Bonus, Pick Me Bonus, and Symbol Upgrade.
Amusnet will host an activation featuring its premium slot cabinets at the upcoming expo, offering attendees the opportunity to experience the thrill of Type S in real time and win exciting gifts.
SoftGamings, the market leader in iGaming solutions and services, announced the arrival of the Tobique Gaming License on the market. The move reflects the company’s commitment to enhancing regulatory compliance and expanding its footprint in the competitive iGaming industry.
Tobique Gaming, managed by the Tobique First Nation in western New Brunswick, Canada, oversees the issuance of online gambling licenses through the Tobique Gaming Commission (TGC) — a regulatory body established under the Tobique Gaming Act of 2023. This initiative is known for its stringent standards and emphasis on responsible gaming. Furthermore, it promotes economic development within the Tobique First Nation community.
The Tobique Gaming license provides operators an entry point into the online gaming and gambling industries. With it, businesses and iGaming operators can conduct operations in various global regions and offer multiple services, from betting to casino games and lottery promotions. The best of all is the streamlined application process, which lasts only 4 to 6 weeks.
SoftGamings is fully prepared to support clients and those interested in obtaining this license. Leveraging its innovative technology and diverse game portfolio, SoftGamings is ready to support clients in navigating the application process and leveraging the benefits of the Tobique Gaming License. The company’s comprehensive services include game development, casino management systems, and payment integrations, making SoftGamings a preferred partner for numerous operators and developers worldwide.
Consequently, helping the clients obtain the Tobique Gaming license and being an entry point represents a significant milestone in SoftGamings’ ongoing efforts to refine its service offerings, maintain the highest standards of gaming integrity, and bolster its regulatory standing. As the company moves forward with this licensing process, it anticipates a positive impact on its operations and continued success in delivering exceptional gaming solutions to its global clientele.
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