Leading Gaming software provider Playtech to acquire entire issued share capital of Intelligent Gaming Solutions (IGS)

Playtech Wednesday announced it has entered into an agreement to acquire the entire issued share capital of Intelligent Gaming Solutions (IGS). Playtech is the leading provider of software to the online, mobile and land-based gaming sector. IGS is a rapidly growing provider of software based casino management systems to land-based casinos and has installed systems in nine casinos, including the Aspers Group properties in the UK and the Regency Casinos in Greece.

The investment will cost Playtech an initial amount of £2.5 million and a further consideration based on the profitability of the IGS business over the next three years, capped at a further £3.0 million, said the firm. Playtech however said the initial amount has been financed from its existing cash resources.

IGS boasts developing an enterprise-level suite of casino management software which manages table gaming, poker, and slots including cashless gaming CRM, loyalty, and cash desk operations. It offers an operator modern scalable architecture and the ability to manage its entire gaming business information through a single application. The system delivers real-time analysis of the gaming floor and helps optimize CRM efforts, achieving enhanced player value.

For Playtech, the acquisition brings a highly regarded management team and software development capability in a business area that is complementary to its existing business, in particular Videobet, and enhances Playtech's cross platform capability. As land-based operators look to develop an online presence, the casino management system provides a gateway to the integration of both formats in an integrated and seamless solution across all channels, said Playtech.

Playtech's Chief Executive, Mor Weizer, noted that the convergence of land-based and online segments is becoming a key theme in the industry and Playtech continues to position itself as the independent software provider of choice with market leading integrated technology. For Weizer, the deal increases Playtech's unique competitive advantage and cross-platform capabilities.

Weizer hopes the IGS team will be able to enhance Playtech’s capabilities in a product area which will further Playtech’s attractiveness to land-based operators.

On his part, IGS's founder, Martin Sykes, said that the deal will underpin the growth of IGS. He further added that the firm looks forward to the future as part of the Playtech team, contributing to the development of a leading cross-platform solution. Playtech's Videobet software has set new standards in server-supported gaming and the IGS solution will extend the Videobet portfolio throughout the land-based operation, said Sykes.

26 Jan 2011.