Playtech Eyeing European Rivals

Playtech provides gambling software for websites and gives them such games as blackjack, poker, roulette and more. The internet gaming software firm now is planning to buy more European rivals to increase its market share and boost the number of poker and casino players.

Avigur Zmora Playtech's Vice Chairman said, "We are looking for the opportunity and when the opportunity is there we usually move very quickly. We think that this is the right time to prepare the company to be almost the only alternative out there."
There major European rivals are Boss and Net Entertainment out of Sweden and also Cryptologic and Microgaming.

Zmora added, "I don't think there will be a financial problem, our competitors in Europe are now relatively small in market value and are usually cash rich. We haven't yet concluded what should be the right opportunity or who should be the first target for us."

Playtech is also looking to expand into the sports betting software end of the industry.

"We want to have a sportbook offer to give the whole suit of services to our licensees. We want to be ready for the change of regulations and when that happens all the key players (gambling firms) will go to shop for software," said Zmora