Analysts at Daniel Stewart & Co investment bank has issued a “buy” note for shares in Israeli online gaming software developer and operator Playtech.
The company, which owns the iPoker, recently sold $250 million worth of online gaming and affiliate marketing assets to British bookmaker William Hill which were rolled into a joint venture of which Playtech received 29 percent.
Daniel Stewart & Co. believes “the agreement with William Hill is significantly earnings enhancing and locks Playtech into a long-term software contract with a major new client. We are increasing our TP from 620p to 713p. Playtech has completed a fantastic deal, but with zero impact on its share price. Investors should be buying aggressively.”
