PlayTech Started Buying Online Poker Rooms

One of the largest developers of gaming software for online casinos, PlayTech, started to conquer a new segment of the online gambling market: it began buying Poker rooms.

The move has already started: PokerStrategy, the largest Internet webpage that is dedicated to teaching people how to play Poker, is already owned by PlayTech. The company has spent a record USD50 million to purchase the site. The results of the acquisition were so impressive that PlayTech announced the purchase of a few other large Poker webpages.

The near-term plans of the company include buying companies that are developing Poker software as well as online Poker rooms and other webpages dedicated to Poker and gambling. The aim of the company is easy to see: PlayTech is going to spend millions on strengthening its position on the gambling market and getting a slice from the rapidly growing market of mobile gambling apps.

PlayTech is prepared to spend up to USD 800 million for such deals. The company has about USD 660 million in the bank, and is planning to attract the other USD 140 million as a loan or outside investment. Even if the company spends a billion on this strategy, it's not going to go bust: its profits have been growing by 15% on average annually, and net profits for the last 6 months were USD 93 million. The company itself is worth about USD 3 billion.

Of course, PlayTech's ambitious plans are not going to affect the largest Poker rooms, since the company simply does not have the needed cash for their purchase (for example, acquisition of Full Tilt Poker by PokerStars was worth USD 731 million in 2012).

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