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Playtech Focuses on Acquisitions

This year is turning out to be a stellar year for several companies in the online casino gambling industry because of new legislation around the world that is embracing internet gambling (though alternately, several countries have recently banned internet gambling). But Playtech is an online casino software provider that has certainly found its place in the industry and has reported significant profits and new product licensing deals throughout 2007.

Playtech has relied on its strong position in the European market as a basis for expansion plans into new markets. The profits from the European online casinos using the Playtech platform enable the software developer to focus on both acquisitions and expansion into new markets. Playtech is one of the busiest companies in the industry in that regard, the company recently announced a prominent and exclusive contract with a prominent Asian online casino gambling.

In addition to that, the company’s third quarter results were extremely positive and indicated that the company predicted that Playtech anticipates continuing success and results for the coming year. And as for a long-term plan for the online casino, the CEO at Playtech, Mor Weizer commented that the company plans to really focus on acquisitions this year. He notes, "Acquisitions remain a target for us ... We are moving forward with that and analyzing the market." Basically, because the online casinos industry has changed so much over the past year, many of Playtech’s rivals are having a harder time finding a niche market and branded product that was strong enough to withstand the new tax legislation in the UK, and the internet gambling ban in the United States.