Playtech buys Intelligent Gaming Solutions for £5.5 million

Online gaming software developer Playtech has purchased Intelligent Gaming Solutions (IGS) in a deal worth up to £5.5 million. IGS provides casino management systems to land-based casinos, which have been installed in nine casinos across the UK and Europe.

The acquisition will allow Playtech to combine its existing online gambling expertise with the knowledge and experience of IGS, enabling them to enter the land-based casino market and cross sell its products and services. The IGS casino management system will allow the integration of both online and land-based formats, providing a seamless solution across all channels.

The move comes after the news that several land-based Las Vegas casinos have been investigating the possibilities of bringing their brand into the online gaming market. The acquisition will allow Playtech to offer the necessary solutions to make this a reality.

As Mor Weizer, Playtech's Chief Executive said:
"The convergence of land-based and online segments is becoming a key theme in the industry and we continue to position Playtech as the independent software provider of choice with market leading integrated technology. We see this deal as increasing Playtech's unique competitive advantage and cross-platform capabilities."

The initial payment for IGS amounts to £2.5 million, with a further payout based on the company's profitability over the next three years. It is understood this will be capped at £3 million.
Martin Sykes, IGS founder added:

"This deal will underpin the growth of IGS and we very much look forward to the future as part of the Playtech team. Playtech's Videobet software has set new standards in server-supported gaming and the IGS solution will extend the Videobet portfolio throughout the land-based operation."