Playtech buys Aristocrat Lotteries for $13.8 mln

Playtech, which designs, develops and licenses software and services for the online, mobile, TV and land-based gaming industry, agreed to buy Aristocrat Lotteries from Australia-listed Aristocrat Leisure for 10.5 million euros ($13.8 million) in cash.The price is subject to certain adjustments and satisfaction of closing conditions. It is anticipated that closing will occur shortly.Aristocrat Lotteries is a supplier of server-based-gaming and online client server solutions for interactive video terminals in both Norway and Italy.The acquisition helps broaden the reach of Playtech's land-based operation across key regulated markets and will help the company to increase market share within the wider global VLT market.Aristocrat Lotteries is based in Stockholm and is the exclusive server-based gaming provider for Norwegian lottery Norsk Tipping's VLTs and supplies its system to a major operator in Italy - a key jurisdiction for Playtech. The company has also recently completed a pilot project in another regulated European country which, if commercialized, is expected to deliver further revenue opportunities, Playtech said.Shay Segev, COO and Head of Retail, Playtech, said: "This is an excellent deal and further strengthens our leading position to retail operators in key regulated markets, while also creating new opportunities to expand in those territories as well as others."Aristocrat said the sale will result in a $45 million ($42 million) non-cash write off in the current financial year.

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