Online gambling software leader Playtech has recently announced that they are looking to carve a place out for themselves in the London Stock Exchange. This is to secure the financial future of the company and to help them to keep their investors and stockholders happy.
Playtech has taken the necessary steps that will allow them to enter the business to business world of real money gambling. They are currently not releasing the name of those they have partnered with, but it is thought that they will do so once everything has been finalized. They are rumored to be pursuing into a venture through Brickington Trading Limited. This partnership shouldn’t be any kind of surprise, seeing how Teddy Sagi, the founder of Playtech, is also a major shareholder for BTL. All of these various transactions would allow Playtech to reach a much larger range of internet platforms, including social media ones, which would spawn off from there as well. Right now there are B2C companies that are already allowing real money lottery and social gaming online, and the Playtech licenses on top of these would allow the existing companies to offer more games.
Another of the terms and conditions acknowledges that Playtech wants to develop an office in London for their UK branch of the company, GTS, or Gaming Technology Solutions. Right now they have a temporary location, but Playtech wants to make it more of a permanent one. The building’s owner, WOE, is working out two different leasing options. The third stipulation has to do with Sagi himself. He was named as an advisor to the company, and will be paid accordingly with an annual salary of €1.
Playtech has already announced to its shareholders about the independent stock exchange through the service of PTTS. They are also gaining a discount of more than €4 million for having such a good review with PTTS, and are able to finalize the transaction far before the deadline. This final payment for the acquisition will be taken from funds that already exist. Incidentally enough, PTTS is also connected to Sagi through Worldwide Online Enterprises Limited, and the resulting transaction fits comfortably within the guidelines that were put into place by the AIM Rules for Companies.