Gambling software developer Playtech sold for more than €3 billion

Playtech Estonia is headquartered in Tartu.
Playtech Estonia is headquartered in Tartu. Source: Margus Ansu/Postimees/Scanpix

Australian slot-machine maker Aristocrat Leisure has agreed to buy British gambling software developer Playtech Plc, which runs a development unit of almost 600 employees in Estonia, for an amount equaling €3.2 billion.

Aristocrat has received letters of intent or irrevocable undertakings in support of the deal from investors that own about 20.7 percent of Playtech's outstanding shares, including its largest owner, the company said according to Bloomberg.

The offer values London-listed Playtech at £6.8 per share, a premium of about 58 percent to the company's last closing price on October 15, Aristocrat said in a statement Monday.

The parent company of Playtech Group is Playtech Plc, registered in the Isle of Man and listed on the London Stock Exchange. The Estonian shares of the company belong to a holding company registered in Cyprus.

At present, Playtech has 7,000 employees in 24 countries. According to the commercial Register, the Estonian branch of Playtech employed a workforce of 594 people at the end of the third quarter of this year.

Playtech's founder, billionaire businessman Teddy Sagi, was the focus of an alleged assassination plot on the island of Cyprus according to media reports earlier this month. The plot was foiled.


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Editor: Kristjan Kallaste, Andrew Whyte

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