Playtech plans stock market flotation.
The group is taking advantage of investor appetite for online gaming stocks by seeking to raise £175m by placing on AIM, in a float that will be the biggest so far of 2006.
Last year Playtech generated profits of $36m on turnover of $48m. Their principle purpose is to design, develop and license software for the global online gaming industry. Its principal markets are online casino, online bingo, online multiplayer poker, fixed odds games, live videostream gaming and land-based kiosk networks.
Founded in 1999, the Company’s licensee base has grown from two in 2001 to 37 to date, operating, in aggregate, 89 online casinos, 16 online poker rooms and 14 bingo sites.
Avigur Zmora, Chief Executive Officer, said, “The IPO will raise the profile of the company and provide it with a significant platform for growth.”