Playtech and Gala Coral Finalise Merger Contract
Playtech and Gala Coral made headlines this month after finalizing the terms of one of the industry’s most high profile deals. The internationally renowned software supplier will be joining forces with Europe’s biggest bingo operator in a merger which is tipped to be worth millions. The new contract will see Playtech provide its technology platform to Gala Coral alongside a wealth of other gaming products.
The deal, which has been several months in the making, was kicked off by a Memorandum of Understanding (MoU) earlier this June. Following this, Gala Coral commenced swapping its current software platforms to those offered by Playtech. The new merger will see the firm’s full product range supported by Playtech including its 6500 Videobet gaming terminals in some 2000 betting shops located throughout both the UK and Europe at large.
Playetch will now enjoy a presence in the company’s Grosvernor Casino chains as well as its land and online gambling operations. Meanwhile the contract will also witness Gala Coral switch allegiance to Playtech’s Virtue Fusion network – thereby parting company from other firms including Geneity, Chartwell, Ash Gaming, Cryptologic, Evolution and Ongame.
Commenting on the arrangement, the Financial Times identified the merger as one of the top three or four deals of the year so far and noted its significance to the industry as a whole. It also went on to say that pre-tax profits could be about to soar following the unification of two such powerful forces. Gaming operators will certainly be keeping a close watch on such industry giants as the year draws to a close.