Takeover Number Four as Playtech Buys Ash Gaming


01/12/2012
By Debra SaundersGoogle

Leading casino games development company Playtech has recently publicized the upcoming purchase of gambling and betting game developer Ash Gaming.  This summer, Playtech secured a 10-year exclusivity agreement with integrated gaming and betting group Gala Coral. As a result of the agreement Gala Coral ended all new projects with other suppliers including Ash Gaming.  Playtech is now acquiring them for £23 million.  Racking up the takeovers, Playtech will have carried out four corporate takeovers this year, which brings their sum total to 10.

Chris Ash started Ash Gaming about 9 years ago, and has since turned his London based company into an international brand employing 40 workers and making over two and half million pounds per year providing online casino solutions to tens of clients.  However, Ash is being well-paid for his efforts.  Playtech will be paying seven and a half million pounds immediately, and will complete the payment over the next 3 years.

Mor Weizer, the CEO at Playtech, expressed his excitement regarding the buyout.  He described Ash Gaming as having a fantastic reputation, quality products, and an impressive list of licensees, including top online casinos like Virgin Casino.  He also noted that the development team at Playtech is familiar with that of Ash Gaming and big fans of their work.  Weizer believes that by bringing popular Ash titles, such as Midas Millions, X-Factor, and Madness House of Fun, to Playtech affiliate casinos, Playtech will be able to increase their revenue stream.  It seems Weizer may be right, because after just announcing the purchase LSE:PTEC went up 1%.  Players at Playtech affiliate casinos are excited about the prospect of new game titles coming to their casinos.


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