According to a statement made by the investment firm IBID Group, an acquisition of the entire share capital that Pragmatic Play had issued has been finalised. The latter is a business-to-business company that currently provides a variety of virtual casino gaming options to clients worldwide. Pragmatic Play’s offices are based in Malta and the Isle of Man to date.
As revealed by IBID Group in its statement, the investment development company intends to turn Pragmatic Play into a major business-to-business digital gaming content supplier by working in collaboration with first-class providers of licensed casino and gaming content. In addition, IBID plans to strengthen the senior management team of the company by recruiting executives of current land-based gaming product providers.
Up to date, Pragmatic Play is among the fastest growing providers of online gaming offerings that are suitable for casino players who use both desktop and mobile devices. The company has more than 150 qualitative slot games that have been especially developed with great dedication as innovative solution to all customers’ expectations.
This is not the first deal that has been made by Pragmatic Play this year. Earlier in 2016, the company has signed a content distribution partnership with SlotsMillion – a web-based casino operator that is widely-known for developing the first Virtual Reality real-money casino.
Commenting on the newly-announced deal, the Chief Executive Officer of IBID Group David Barzilay said that the acquisition was expected to help the firm bolster its growing position in the online gaming business. According to him, the contract will expand their current portfolio. As explained by Mr. Barzilay, in the firm’s portfolio there are some companies with great growth potential, so he believes that the latest acquisition would help them generate massive returns in the long term.
IBID’s Chief Executive Officer also shared that everyone in the company believe they had the best team and experts at their disposal in order to provide Pragmatic Play with the chance to unleash “its growth potential and realise value.” Mr. Barzilay also praised the company’s team calling it “highly talented” and shared that his expectations to quickly turn Pragmatic Play into a leading digital gaming solutions provider.
He also shared that the acquisition of Pragmatic Play is only part of the company’s strategy that is still aimed at completing some takeovers in order to bolster the current gaming offerings in order to deliver “meaningful returns” to the firm’s investors.
- Author
Olivia Cole
