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Best Gaming Technology Acquired by Rival Playtech

Published: July 14, 2016; 12:30 · (FriedlNews)

Vienna-based maker of software for self-service betting terminals Best Gaming Technology (BGT) has been acquired by UK gambling software group Playtech for €138m. Playtech holds the option to purchase the remaining shares for up to €55m from Armin Sageder, the company’s founder and chief executive.

Armin Sageder: CEO of Best Gaming Technology / Picture: © Best Gaming Technology GmbH

Playtech said it had bought 90 per cent of BGT in an all-cash deal, with the option to purchase the remaining shares for up to €55m from Armin Sageder, the company’s founder and chief executive.

Armin Sageder, Chief Executive Officer of BGT, who started his company in 2005, will remain at the group for at least three years.

Mr. Sageder commented, “When I founded BGT in Vienna, Austria, in mid-2005 I had the vision of a high-end provider for the land based sports betting industry with a focus on self-service systems. Having worked through some challenging years in the beginning, BGT has become the number one sports betting technology provider for land based products worldwide. I believe that BGT, and myself have now found the ideal investor in Playtech to enable us to take all retail betting systems, including tills as well as omni channel and digital solutions to the next level. I am genuinely excited to work with the existing team at BGT and new colleagues at Playtech to accelerate investment and realise these ambitions.”

BGT creates software for self-service betting terminals — machines in betting shops that allow punters to access functions from placing sports bets to playing casino games.

These machines form part of the “omnichannel” strategy pursued by retail bookmakers in the face of fierce competition from purely online gambling companies. The self-service terminals allow customers who are already gambling through mobile apps or over the internet to use funds from their online accounts once inside a betting shop.

BGT provides software to roughly 24,000 machines, mainly in the UK, Ireland, Spain, Austria and Germany. Playtech already provides similar technology for machines operated by Gala Coral of the UK.