Playtech acquires Ash Gaming for 23M
Playtech Limited has announced the acquisition of Ash Gaming Limited for a total consideration of up to £23 million. This deal will enhance Playtech’s content library and increase the revenue share from a number of the UK’s leading operators.
Ash Gaming was founded in 2002 and is a leading developer of online slots games with over 30 licensees and acquiring the company will significantly benefit Playtech.
Playtech CEO Mor Weizer said, “I am delighted that we have been able to acquire Ash Gaming. They have a fantastic reputation with their licensees for delivering class-leading and innovative content along with a growing presence both in the UK and internationally.”
“We have known the team for some time and they will provide significant benefits to Playtech both in terms of expertise and knowhow, as well as the potential for a number of incremental revenue streams. We are very excited about our plans for extending Ash’s games to a wider audience and throughout the Playtech casino product,” he said.
The total consideration for the acquisition is up to £23 million, which consists of £15.5m initially with an additional deferred payment of £7.5 million.
Chris Ash, founder and CEO of Ash Gaming said, “We are looking forward to furthering our already good relationships with existing Playtech group companies and are excited by the opportunity for sharing best practice in product, technology, customer analysis and commercial areas of the business.
“The acquisition also provides greater opportunity for our existing management team and staff to continue to grow within a larger organisation.”
The five reel, 20 paylines Alice’s Wonderland slots game is one of the most popular Ash Gaming titles with a progressive jackpot and a single line jackpot of 10,000 coins. Other popular games include Captain Cannon’s Circus of Cash slot, King Arthur slots, Wild Gambler and much more.
Written by John Freeman for Gambling Games – your best source for online slots bonuses