• 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

    • 14 June 2016

      Playtech Continues Casual Games Market Push

      Recently, Playtech acquired the company Funtactix. This company was known for creating popular casual games, and they've won several awards for that. Some of the games they have created have been built up on popular brands in the United States like Rocky, Mission: Impossible, Power Rangers and the Hunger Games. Buying this company is all a part of Playtech's plan to get onto the computers and mobile devices of US players within the casual game market. An Important History Lesson for Playtech

      Read full article
    • 28 January 2016

      Largest Mobile Jackpot Comes in For Playtech

      Playtech is no stranger to offering up huge jackpots, but they've recently broken their record for the largest mobile jackpot out there. They did this on Gala Bingo, of all places, when a lucky player from Scotland nailed a €5.89 million payout. This was achieved on a spin worth just €4, and that's a tremendous payout. This win was the largest payout ever on a bingo site powered by Playtech, and it's also the second-largest mobile jackpot that they have ever paid out.

      Read full article
    • 06 December 2015

      Sun Bingo Switching to Playtech's Virtue Fusion Software

      When an online gambling operator of any type chooses a software company to work with, it's typically for a long deal. Back in 2008, Sun Bingo relaunched itself using Gamesys software, and this was a pretty big deal at the time. That contract is apparently coming to an end because Sun Bingo has announced that they will be switching players over to the Virtue Fusion platform by Playtech. The Virtue Fusion Product Virtue Fusion is the online bingo product produced by Playtech.

      Read full article