• Playtech Raising Funds for Plus500 Purchase

    22 June 2015

    Businessintelligence

    Playtech has made a lot of moves over the past few years when it comes to expanding into different parts of the market. They've recently been looking closely at CFD trading, and they've decided to try to purchase CFD trading company Plus500. This purchase will cost them a total of £459.6 million, and they have placed more than 29 million shares to help fund this purchase.

    Details on the Fund Raising

    They're looking to raise over £250 million with this placing, and around 33.6 percent of this is expected to go to the Brickington investment company. This is owned by Teddy Sagi, one of the founders of Playtech and their main shareholder. He has a long and complicated history with the company, and it's no surprise that he's going to maintain his position by purchasing this much of the placing.

    This fund raising actually came as a surprise some some people because Playtech had previously said that they would fund the purchase of Plus500 with existing funds and assets. However, they have another CFD company TradeFX that they have been looking to purchase as well, and this prompted them to increase their fund raising efforts to compensate.

    Playtech's Global Position

    While they are often known for their online casino and online poker exploits, Playtech has expanded a tremendous amount when it comes to the breadth of industries they are involved in. With their big push into the CFD space, it's not really surprising that they're going after multiple companies. Breadth has been the name of the game for Playtech for a long time, and they've used this strategy by getting involved in several aspects of what could be considered the wider online gambling industry.

    Criticism vs. Business

    Some people have complained that Playtech has spread themselves too thin and that this has led to them no longer heading the pack in certain areas like with online poker and online casino games. However, from a business standpoint, it makes sense for them to diversify as much as they can profitably. Only a handful of companies can really be at the top in any single sector of the industry, and Playtech is content to make plenty of money being well above-average in everything they do.

    Related News

    • Booongo signed an agreement with flow gaming

      Gambling News

      Booongo Signs Agreement with Flow GamingIvan Stefanovic09 April 2021

      Booongo, an online slot developer, has boosted its presence in the market with the integration of its suite of games with Flow Gaming. This will make games such as Dragon Pearls, Tiger Stone, Sun of Egypt, Thunder of Olympus Hold and Win available across Flow’s network. In addition, their promotion tools are created to increase loyalty and will be available to the provider. Booongo has also strengthened its influence across Latin American markets by agreeing with Virtualsoft.

      Read full article
    • Everymatrix opens headquarter in miami

      Gambling News

      EveryMatrix Opens Headquarters in MiamiIvan Stefanovic19 February 2021

      Online casino operator, EveryMatrix, is pleased to announce the opening of its new office center in Miami, Florida. The new place, led by veteran commerce Eric Nyman, president of EveryMatrix America, aims to increase the company's international presence in American markets. The new EveryMatrix business center, located in the center of Miami, close to major business and entertainment venues, is poised to coordinate business across the United States and Latin American markets.

      Read full article
    • Blueprint gaming grows on international market with lucksome

      Gambling News

      Blueprint Gaming Grows in International Market with LucksomeIvan Stefanovic21 January 2021

      Online casino provider, Blueprint Gaming, joined forces with the newest development studio, Lucksome, which will bring new and innovative content to the global gaming industry. The new studio will be led by a team that has almost 3 decades of game development experience in the online, land-based and social casino industry. The new company has a big goal to create innovative concepts and games that will engage players and increase retention.

      Read full article