The online gambling software developer raised £265.2m from a placing at 257p per share and received net proceeds of £31.8 million, which will be used by the company to expand into new territories and products, to invest in research and development and to acquire new technologies or businesses.
Founded in 1999, Playtech has grown from 2 licensees in 2001 to 39 today. Its platforms support 94 online casinos, 15 online poker rooms and 15 online bingo sites.
Revenues have grown from $12.9m in 2003 to $47.6m in 2005 with profits growing from $8.3m to $35.6m respectively.
Licensees include online operators who have migrated their gaming systems onto the Playtech group\’s platform, such as Intercontinental Casinos, traditional land-based organisations such as Christchurch Casinos and sports betting operators such as Bet365, the Tote, BetWWTS.com, SportsInterAction and BetFred.
Roger Withers, outgoing Arena Leisure Chairman, has been appointed non-Executive Chairman.
“The outstanding interest in Playtech\’s shares from both US and UK investors is a clear endorsement of the company\’s offering, business model and prospects. We look forward to life as a plc and to continuing the growth of the business,” commented Avigur Zmora, Chief Executive Officer of Playtech.
In separate news, IGV Limited, a privately held company which operates pokersyndicate.com, announced the acquisition of Imperial Poker.
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