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Cash Reserves for GTECH

The St Minvers online casinos white labeling company is switching hands in just a matter of weeks at this point according to reports and comments released by both companies involved. GTECH has announced it will acquire St Minvers parent company, St Enodoc Holdings Ltd for Euro 28 million. GTECH’s current expansion strategies include finding a footing in the online casinos gambling industry, and St Minvers is a well established and popular white labeling brand.

The online casinos gambling is predicted to flourish over the next several years and GTECH was looking for a way into the industry without starting at the ground floor. According to industry analysts the European market will continue to grow steadily over the next several years while the Asian online gambling industry has the potential to really explode into a significantly profitable region. The founder of St Enodoc, Gary Shaw, commented on the new market and where his company fits into the puzzle; "As the market enters a new phase of development, industrial scale on a global basis will determine which businesses succeed. The St Enodoc management team is delighted that it can leverage its Internet gaming capability to be part of one of the companies that will shape the future of the gaming market."

GTECH is benefiting from the quality brand and reputation of St Enodoc while also taking the company to new heights in the international online casinos gambling industry. GTECH has had a successful past couple of years and the company expects to pay for this latest acquisition out of the company’s cash reserves – a luxury that few companies have but that certainly indicates that GTECH is well placed in the industry and predicts that the company will only continue to show profit and revenue increases in the coming years.