Playtech to be Acquired by Aussie Aristocrat Leisure for £2.7 Billion

Fazzaco learned that Playtech, the UK-based world's largest online gaming software supplier, has entered an acquisition agreement with Aussie leading gaming solutions provider Aristocrat Leisure Ltd. (Aristocrat Leisure). The Australian company will buy Playtech for the price of £2.7 billion.

Reportedly, Aristocrat Leisure’s wholly-owned affiliate Bidco will made the deal after both parties agree on the further terms and conditions. Aristocrat Leisure bought Playtech’s ordinary shares at $9.35 per share, a premium of almost 58% to the closing price on October 15. This made the total price of Playtech’s ordinary shares at around £2.1 billion on a fully diluted basis and nearly £2.7 billion on an enterprise value basis.

Furthermore, Aristocrat Leisure spared efforts to secure AUD 1.3 billion via share sales to fund the acquisition. Its shares ware sold at a discount of 8.6 percent to the closing price of October 15.

“The proposed combination would bring together Aristocrat Leisure’s world-class gaming content, customer and regulatory relationships with Playtech’s industry-leading global online RMG platform (B2B) and European B2C footprint,” said Trevor Croker, CEO at Aristocrat Leisure.

The combination would expand the Australian firm’s end-to-end solutions for worldwide gaming customers, Trevor Croker added.

Last month, Fazzaco reported that Playtech has entered into an agreement to sell its financial trading division Finalto​ to Gopher Investments for cash consideration of US$250 million.