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Playtech To Enter Social Poker Market

iPoker Owner To Buy Social Gaming Company

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Playtech, owner of the iPoker network, today announced it was planning to buy a business-to-business social gaming platform for €95 million from its leading shareholder Teddy Sagi.

A non-binding memorandum of association has been signed pending a shareholder vote which is needed because of Sagi’s association with the deal.

Playtech’s share price fell 15.25p to 335.25 at the time of writing as the market reacted negatively to the deal.

The company said of the move, “By completing the intended transaction, Playtech would gain access to a broad range of social gaming platforms and products and believes it would be uniquely positioned as a leading B2B provider with the ability to supply cross platform capabilities for a full suite of products including social casino, poker, bingo and rummy.”