Playtech closes in on acquisition deals
Chairman Alan Jackson says supplier is in "active discussions" with a number of targets
Playtech is in “active discussions” with various acquisition targets as the supplier giant looks to complete a number of deals during 2016, according to chairman Alan Jackson.
In a statement at Playtech’s annual general meeting later today, Jackson will tell shareholders the company plans to make a number of acquisitions in both the online gaming and financial trading sectors.
“Our pipeline of M&A opportunities remains healthy with active discussions in the gaming division as well as discussions for selective bolt-on acquisitions in the financials division,” Jackson will say.
“As we stated at the time of our 2015 full year results, should suitable acquisitions not be available, consideration will be given to returning cash to shareholders as we look to maintain an efficient capital structure.”
Last year Playtech made a concerted push to expand its financials portfolio after striking a ?333m deal to acquire a majority stake in brokerage firm TradeFX, as well as a ?67m agreement for CFD broker Ava Trade.
It is also understood the supplier acquired London-based games developer and platform provider GECO Gaming earlier this year.
According to today’s statement, daily average revenue growth in Playtech’s gaming arm in 2016 remains in line with the same growth rate recorded during the same period last year.