Playtech, which is one of the leading gambling software developers founded in 1999 in Estonia, has decided to eliminate its competitor from the gambling market. However, the way to do this is quite strange. The company wants to acquire it.
So, the gambling operator Best Gaming Technology was purchased for 138 million dollars by the Teddy Sagiís group.
It is interesting to note that the company demonstrated great results in 2015. Its income reached 630 million euros. This amount is much better than 457 million euros observed the year before last. The owner of Playtech announced that the company tended to expand, offering more advanced technologies and gaming solutions to its customers.
Playtech purchased 90 % of shares of Best Gaming Technology, which is a software development company from Austria involved in manufacturing a range of market leading turnkey and white-label betting solutions. However, it is still able to acquire the remainder for over fifty million euros. Armin Sageder, CEO of Best Gaming Technology, is the current owner of those shares, since he wants to be a shareholder of his former company.
Best Gaming Technology operates on the gambling market, offering wagering terminals for placing bets on sporting events and various casinos games.
The basic feature of models developed by Best Gaming Technology is the so-called omni-channel system. It allows bettors to use credits available on their gambling accounts to stake on terminals installed in the brick-and-mortar wagering stores.
Playtech has already entered the markets of the United Kingdom, Spain, and Italy. Nowadays, the company is expanding and offering 24,000 terminals from Best Gaming Technology. They will be available in the United Kingdom, Ireland, Spain, Austria, and Germany.
Mor Weizer, CEO of Playtech, indicated that the company aimed at creating the opportunities for retail gambling and betting operators and their customers.