Dec
19th

Playtech acquires Ash Gaming

Leading casino software provider, Playtech, has announced that it has purchased the interactive gambling and betting games developer, Ash Gaming, for an amount of £23 million.

The acquisition of London based Ash Gaming, which was founded by Chris Ash in 2002, is Playtech’s fourth acquisition this year.

Ash Gaming has grown substantially since 2001 and currently employs forty people. Its profits doubled to £2.6 million in the twelve month period in its last full year report.

In terms of the deal, Playtech will make an initial payment of £15.5 million and the remaining £7.5 million will be paid by them over a period of three years and linked to future results.

This latest acquisition follows an amount of £100 million raised by Playtech from shareholders last month.

Chief Executive Officer of Playtech, Mor Weizer, said that he is thrilled that they were able to acquire Ash Gaming as they have a wonderful reputation with their licensees for delivering top-class and innovative content together with a fast growing presence in the United Kingdom as well as internationally. Weizer added that they have known the team for a considerable time and they would be providing substantial benefits to Playtech in terms of expertise and knowhow as well as the possibility of supplemental revenue streams. He added further that they are very excited about their plans to extend Ash Gaming’s games to a vast audience and throughout the Playtech casino product.

Ash Gaming have created several leading titles that include games such as Midas Millions, Madness House of Fun as well as its latest venture, the X Factor slot machine game.

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