Playtech acquires Aristocrat Lotteries for 10.5 M euros
CEO and Managing Director of Aristocrat, Jamie Odell said “With the recently announced acquisition of Video Gaming Technologies, Aristocrat is sharpening its focus on the business’ strategic strengths. In particular, we will continue to leverage our premium game content across priority, high value segments and markets, including North American gaming operations, digital and core outright sale markets.
“The sale of the lotteries business will allow management to focus on these growth areas to deliver optimal returns on the Group’s Design & Development spend. The company will work with Playtech to ensure there is a smooth transition for employees and customers.” Odell concluded.
The sale will result in a non-cash write off of approximately US$ 41.8 million in the current financial year, subject to adjustments. This will primarily relate to the carrying value of intangibles and foreign exchange losses currently recognised in equity, which will be reclassified to the profit and loss on completion of the sale. Completion of the sale is expected in the current financial year.
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