Acquisition

RNS Number : 1156N

Playtech PLC

21 October 2016

 

Playtech plc

("Playtech," the "Company," or the "Group")

Playtech acquires bingo software and hardware solutions provider ECM

Playtech (LSE: PTEC) announces that it has acquired bingo software and hardware solutions provider ECM Systems ("ECM"). ECM supplies software and support services to the UK retail bingo market, including major operators Gala Leisure, Mecca Bingo and the leading independent bingo operators.

ECM is highly regarded within the bingo industry and its extensive range of products is instrumental to the daily operation of retail bingo in the UK and the Republic of Ireland.  Its systems provide key facilities for Main Stage Bingo, Cash Bingo, wide area linked gaming operations and front-of-house reporting. A complete customer support facility provides technical and repair services for all current and legacy products.

The last few years have seen ECM invest in expanding its digital strategy.  As a result, ECM is the leading provider and licensor of digital bingo software for a wide range of handheld tablets known as Electronic Bingo Terminals (EBT), and this generates a significant proportion of its revenues.

The acquisition of ECM positions Playtech at the forefront of the retail bingo market in the UK. It also empowers Playtech to provide omni-channel solutions to the bingo operators by connecting their retail and online operations as well as providing a platform to supply Playtech content.

For FY 2016, ECM reported revenues of £9.1 million and adjusted EBITDA of £4.5 million. Playtech has paid approximately £14.9 million for 90% of the issued share capital of ECM. The remaining 10%, which is subject to put and call options capped at £1.1 million, is held by Allen Richardson who will remain as CEO of the business for the next 3 years.

Mor Weizer, Chief Executive of Playtech, commented:

"ECM has a leading position within the bingo hall sector, including its extensive range of handheld devices that enable players to enjoy a digital experience within a familiar retail environment.

"This is a significant step in strengthening and expanding our Playtech ONE offering within the bingo sector and we look forward to working with Allen and the whole ECM team."

- Ends -

For further information contact:

Playtech plc Mor Weizer, Chief Executive Officer Ron Hoffman, Chief Financial Officer c/o Bell Pottinger Andrew Smith, Head of Investor Relations	[phone] [phone]
Bell Pottinger David Rydell / Olly Scott / James Newman	[phone]

About Playtech

Playtech is a market leader in the gambling and financial trading industries. Founded in 1999 and listed on the Main Market of the London Stock Exchange, Playtech has more than 5,000 employees in 13 countries.

Playtech is the gambling industry's leading software and services supplier with more than 130 licensees globally, including many of the world's leading regulated online, retail and mobile operators, land-based casino groups, government sponsored entities such as lotteries, and new entrants opening operations in newly-regulated markets. Its business intelligence-driven gambling software offering includes casino, live casino, bingo, poker and sports betting.

It is the pioneer of omni-channel gambling which, through Playtech ONE, offers operators and their customers, a seamless, anytime, anywhere experience across any product, any channel (online, mobile, retail) and any device using a single account and single wallet. It provides marketing expertise, sophisticated CRM solutions and other services for operators seeking a full turnkey solution.

Playtech's Financials division, run through subsidiary Markets Limited, is an established and growing online CFDs broker and trading platform provider, operating the brand markets.com. Its B2C focused offering is available in more than 100 countries and in more than 25 languages and is licensed and regulated in the EU and South Africa. 

www.playtech.com

 

END

 

 

ACQFEWESSFMSELS