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.
Supremeland Gaming, the emerging brand in American iGaming, announced the approval of an interim Supplier License in West Virginia, further solidifying its position as a key player in the rapidly expanding iGaming industry. This milestone marks the company’s third approval following the successful acquisition of the first approvals in Pennsylvania and New Jersey.
Supremeland Gaming is approved to operate under this interim license and is now authorized to offer its cutting-edge innovation to the Mountain State.
Supremeland’s game portfolio has garnered international appeal since its debut in November 2023. The innovative brand promises cutting-edge slot play, combining immersive storytelling, state-of-the-art graphics, and impressive bonuses.
Rickard Öhrn, CEO of Supremeland Gaming, said: “The acquisition of our interim Supplier License in West Virginia is a pivotal step in our journey, reflecting on our dedication to delivering innovative experiences to a broader audience. As we expand our footprint, our commitment to excellence remains unwavering, and we look forward to contributing to the vibrant gaming landscape in the Mountain State.”
Supremeland is gaining traction for its emerging portfolio of top-notch games, including Red Panda Rising and the international debut title, Munition Mine, underscoring its commitment to pushing the boundaries of innovation in the iGaming industry.
Pragmatic Play, a leading content supplier to the iGaming industry, is continuing its momentum in the Latin American market, after signing an agreement to take its three biggest products live with Betsala.
The agreement will see Pragmatic Play’s full portfolio of award-winning Slot content go live, including recently released Slot titles Loki’s Riches and The Big Dawgs in addition to familiar player-favourites such as Sugar Rush and Gates of Olympus.
Betsala customers will soon gain access to Pragmatic Play’s Live Casino products upon integration being completed. The sector has been a focus for the provider over the previous 12 months with releases such as the dynamic Treasure Island game show which complements Pragmatic Play’s comprehensive range of casino classics such as Roulette, Mega Roulette, and Blackjack which are also available on the platform.
Completing the product offering is Pragmatic Play’s cutting-edge 3D renderings of popular sports such as horse and greyhound racing, football, and motorsports.
The latest LatAm development for Pragmatic Play sees it further boost its profile across the region where it has cemented its status as a leading supplier of casino experiences.
Victor Arias, Vice President of Latin American Operations at ARRISE powering Pragmatic Play, said: “Proving LatAm is still a key source of growth, Pragmatic Play is delighted to now count Betsala as another valued partner in the region.
“Pragmatic Play’s three leading products will soon be on the platform, and we look forward to even more players discovering its robust and engaging offering.”
Albert Bellavista, CEO at Betsala, said: “Pragmatic Play has built a stellar reputation across Latin America for its high-quality experiences, and we welcome them as our latest partner to bolster our offering and provide more thrills than ever.
“Most iGaming enthusiasts worldwide are already familiar with Pragmatic Play’s titles and we know the upcoming addition of its content will come with a great response from our players.”
Pragmatic Play, a leading content supplier to the iGaming industry, is set to make another appearance at a Latin American summit, at SAGSE LATAM in Buenos Aires.
Taking place across two days from March 20th-21st, the event sees iGaming professionals gather at Buenos Aires’ Hilton Hotel for the 32nd edition of the iconic exhibition.
SAGSE LATAM marks the second summit attended by Pragmatic Play in Latin America in 2024, with its new immersive proposal Pragmatic Play Experience, after an extremely successful exhibition tour in 2023, which saw the provider make inroads across the continent and impress industry representatives.
The gaming provider will be at Stand 120 to showcase its diverse portfolio, including Slots, Live Casino, Virtual Sports and Bingo content, alongside its brand-new Sportsbook solution.
In addition, Pragmatic Play will be a platinum sponsor of the event, highlighting the importance of such industry exhibitions and the vital role the leading provider plays in them.
Victor Arias, VP of Latin American Operations at ARRISE powering Pragmatic Play, said: “Pragmatic Play is proud to be a platinum sponsor of SAGSE LATAM and to be influential in shaping the future of the Latin American iGaming market. With a comprehensive multi-product offerings and solutions, it is poised to capitalise on the immense opportunities that the region presents.
“With an exciting range of panel discussions and interactivities that the conference brings, it is set to be yet another momentous date in the LATAM gaming calendar.”
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