M&A news sponsored by Playtech

 

International Gaming Technology (IGT) has added another pillar to its internet gaming portfolio with the US$500m acquisition of Double Down Interactive (DDI).

Canada’s Amaya Gaming Group has been granted an extension of three weeks to reach a potential takeover agreement with online casino and games developer CryptoLogic, affording Amaya time to complete its due diligence process and finalise its financing arrangements.

Having already bought up 7 per cent of the company’s shares over the past year, Canada’s Amaya Gaming Group has made a move to acquire the entire outstanding capital of online casino and games developer CryptoLogic Limited.

Norway’s Playsafe Holding AS is to focus on its B2B online poker software business following the sale of its operating division to Julian International Holdings Ltd, a Seychelles-based corporation representing professional gaming investors.

The Tasmanian government has come under fire following the sale of Tote Tasmania to Australia’s Tatts Group for AUD$103m, with opposition leader Will Hodgman calling on the country’s Parliamentary Select Committee to investigate what he claims to be a “dodgy” sale process.

Italian gaming giant SNAI has signed an agreement to acquire at least 96 per cent of rival operator Cogetech for a sale consideration of approximately €140m as it looks to strengthen its position in the Italian sports and horse race betting market and become a significant force in the amusement machine segment.

Swedish skill gaming and casino games provider Jadestone has completed a management buy-out from its parent company, Åland’s Paf, as the company looks to continue its focus on B2B gaming platforms.

Online gaming software and services provider Playtech Limited has expanded its product offering with the acquisition of games developer Ash Gaming Limited for a total consideration of up to £23m.

Paddy Power plc has acquired Isle of Man based CT Networks Ltd, the online slots and table games developer trading as Cayetano, for an undisclosed sum.

GIQ Magazine Digital Edition