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Placing Shares for Playtech

Progress throughout 2007 has placed the Playtech online casino software development company in a prime position for share placing in 2008. As Playtech continues to compete with the major software developers in the internet casinos industry, the company announced a focus on new acquisitions in 2008. Playtech has already blazed a trail of success in the area of new licensees, so a Placing Share initiative with Collins Stewart has raised more than 100 million pounds that Playtech can now use specifically for acquisitions, which will only continue strengthen the online software development company’s position in the international internet gambling market.

The impetus for raising the new money comes from Playtech’s current stable financial situation and growth in the European online casino industry. The CEO at Playtech, Mor Weizer remarked on the strong performance in 2007 and 2008, “This performance has put the group in an ideal position to continue its growth strategy both organically and by acquisition. We have demonstrated our ability to leverage acquisitions and believe this placing will provide the group with an extremely strong balance sheet that will allow it to take advantage of further opportunities that the current market offers."

The Placing Shares were underwritten by Collins Stewart and the price per Placing Share was 520p. All total the process raised GBP 112 million for the Playtech to use toward future acquisitions. In addition to the share placing process, Playtech is looking for listing in the London AIM. Additionally, the company is extremely cash-positive at this point with GBP 86.5 million in liquid cash assets – coupled with the money from Placing Shares, and Playtech is primed to really expand into the global online casino gambling industry.