Aristocrat makes $5bn play in online gambling

Pokie machine manufacturer and online game developer Aristocrat Leisure is making a massive $5 billion play to expand its booming online gambling businesses.

The Sydney company is to raise $1.3 billion in new capital to acquire leading online gambling software and content supplier Playtech for $5 billion.

The move vastly accelerates its global growth strategy which has been increasingly dependent on online assets in recent years, a trend which was reinforced by the closure of physical gambling venues during the Covid-19 crisis.

The board of Playtech has unanimously recommended the takeover, which is being made at a 58 per cent premium to Playtech’s last closing price.

Aristocrat said it considered Playtech to be one of the world’s largest online gambling software suppliers.

More to come…

Picture: Aristocrat Leisure

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