Playtech PLC Does U Turn on Social Gambling
Playtech PLC have according to reports in the UK media done a u turn in regards to purchasing Social Gaming assets from the founder of the company.
The UK gambling company was in talks in regards to making a £77 million acquisition of social gaming assets which had the effect of raising some concerns amongst industry analysts.
If this deal had gone through it would have seen Mr. Sagi who founded the company and who still owns 48% of its shares paid out yet again by the company for a product he has built. Mr. Sagi has managed to sell a number of related gambling concerns back to Playtech in recent times including the much maligned Euro Partners marketing division.
Euro Partners provides an affiliate marketing service to a large number of Playtech Casinos and has established a less than salubrious reputation according to some Affiliate Forums. Playtech are according to reports wanting to gain a premium listing on the Stock Exchange which would mean additional regulation and have therefore taken a number of steps to ensure that it is seen to be doing the right thing in terms of acting independently.
It has therefore decided to scrap the Social Gaming purchase and pursue a software licensing deal with Mr. Sagi that would be conducted in an independent impartial manner. The continual purchase of gambling and gaming related concerns by Playtech from its largest shareholder and founder of the company must be raising some eyebrows.
At the present time Playtech software does power some of the biggest names in British Gambling including William Hill with who it has a joint venture and Windows Casino which is a long standing popular European and UK Online Casino.
There is no doubt that Playtech is one of the foremost gambling companies with a wide range of products including outstanding poker and bingo products, why could it not build these social gaming products instead of purchasing them from the founder of the group. Perhaps the strategy of the group is to aquire rather than create.
Playtech Plc has in the past managed to aquire vast amounts of products and to intergrate them slowly into their various products. This makes Playtech a formidable company in the gambling space and if i where a betting man and i am i would be looking to aquire shares in this UK gambling company.