Aristocrat to Buy Playtech for $3.7 Billion

Playtech shares surged as it was announced that the brand will be taken over by Australian slot company, Aristocrat

Shares in the London company rose by £6.80 ($9.35) per share, up 58%. Reports suggest that the deal will be worth around $3.7 Billion, making it one of the largest purchases in the iGaming industry this year. 

Aristocrat will raise $1.3 billion in a share sale to  fund the acquisition, the Sydney-based company said. The stock will be sold at an 8.6% discount to Friday’s closing price. 

“The combined group would offer a broad portfolio of end-to-end solutions for gaming customers around the world, as well as seamless player experiences, underpinned by a shared focus on responsible gameplay and innovation,” Aristocrat Chief Executive Officer Trevor Croker said.