DLA Piper has advised Playtech, the world's largest online gaming software supplier traded on the London Stock Exchange Main Market, on the acquisition of a 90% stake in Best Gaming Technology (BGT), a retail gambling company, for EUR 138 million, from majority shareholder Global Bet Holding GmbH (GBT). The remaining 10% will be retained by Armin Sageder, BGT's founder and CEO. Austria’s Doralt Seist Csoklich law firm advised Sageder and BGT on the deal. PHH advised GBT on the matter.
Playtech plc is a gambling software development company founded in 1999. The company provides software for online casinos, online poker rooms, online bingo games, online sports betting, scratch games, mobile gaming, live dealer games, and fixed-odds arcade games online.
BGT creates software for self-service betting terminals which allow customers to access functions, from placing sports bets to playing casino games. These machines represent the omni-channel strategy pursued by retail bookmakers in the face of fierce competition from purely online gambling companies. The firm currently provides its services to 24,000 machines, mainly in the UK, Ireland, Spain, Austria, and Germany.
DLA Piper Corporate Partner Rob Salter, who led on the transaction, said: "The gambling market has changed considerably over the past few years as retail operators have digitized their customer offerings. This acquisition will enable Playtech to respond to the evolving market landscape, whilst simultaneously enhancing their multi-platform customer experience. We look forward to following their continued success."
In addition to Salter, the DLA Piper team included Corporate Partners Rob McKie, Christoph Mager, and Elisabeth Stichmann, IPT Partner Roger Gough, IPT Associate Jonathan Salt,, Corporate Associate Valerie Kramer, Corporate Junior Associate Fabian Karlovits, and Corporate Attorney Johanna Hoeltl.
Doralt Seist Csoklich lawyer Christoph Leitgeb led his firm’s team advising Sageder and BGT on the deal.
Editor's Note: After this article was published PHH informed CEE Legal Matters that its team advising GBT consisted of Partner Rainer Kaspar, Attorney Daniela Olbrich, and Associates Wolfgang Guggenberger and Antonius Macchietto Della Rossa.
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