One of the leading software providers in the online gambling industry, Playtech, is all set to enter into new gambling ventures. The company announced that it is in the process of raising funds for new acquisitions and investments. A few months ago, Playtech stated that it is looking for some strategic opportunities for expansion.

Acquisitions and Joint Ventures to Cost Approximately £100m

£100m has been estimated by Playtech for investing in new projects that the company will be undertaking in the near future. The groundwork has already been completed for the new projects. Some of the ventures that Playtech plans to pursue have been announced. Playtech members believe that this is the appropriate time to follow-through on the expansion plans of the company.

Playtech will Expand its Offerings through Partnership Deals

The spokesperson for Playtech claimed that the firm will be able to expand its offerings through the partnership ventures it plans to undertake. Companies have already been identified as potential partners by Playtech. Most of these firms have a good reputation in the industry. Some of the companies exist in markets which have been recently opened for online gambling, and a few in markets that are newly regulated. The online gambling giant William Hill is currently a partner of Playtech.

Break-Up of its Investment Expenses Announced

In the £100m that Playtech will require to carryout its investment plans, about £40 million has been estimated for acquisition deals. For joint ventures, around €15 million to €30 million has been estimated per deal. Playtech’s founder, Teddy Sagi, is set to increase his ownership of the company’s shares to 43.7%. An analyst stated that the fund raising attempts made by Playtech, testify to the great variety of projects that the company will be undertaking. Playtech’s track record for acquisition deals is excellent, according to the analyst.

Only about £39 million has been promised by Playtech’s shareholders. The rest will be arranged by Sagi. Playtech is headquartered in the Isle of Man. In a meeting to be held at the same place on 19th December, the value of Playtech’s shares will be placed at 215p. Approval from more than 50% Playtech shareholders will be required. Sagi will not be able to vote his shares.

Playtech announced that the joint venture deals will be facilitated with the help of services from PT Turnkey. It is a business marketing solution which was bought last year from Sagi with €280m.

The software development company, Playtech, was established in the year 1999. The firm powers a large number of poker sites, online casinos and bingo rooms in the industry. Some of the online casinos powered by Playtech include Casino Plex, William Hill Online, Betfair, bet365 and Mansion. A wide variety of online casino games like online roulette are included in the portfolio of Playtech. In addition, slots games, card games, scratch card and a wide variety of video poker games are offered by Playtech. Its software has been tested and certified by leading gambling bodies.