Playtech Buys Tribeca's European-Facing PlatformsMove In Line With Company Strategy to Expand Operations |
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Only three days after Tribeca announced that it will stop doing business with customers located in the U.S., the online software company's European-facing poker platforms were bought by Playtech for $75 million.
Some of the sites that Tribeca provided platforms and eGaming solutions to included PaddyPowerPoker, UK-Poker.net, Victor Chandler, and Royal Blue Poker. When the announcement was made, shares of Playtech traded almost 9 percent higher than at the start of the day.
This deal makes Playtech one of the world's largest poker gaming software and platform providers, and the maneuver is in line with company strategy of increasing its global reach.
Chief Executive Avigur Zmora estimates daily rake after the deal is complete to reach about $400,000.
Tribeca has a bunch of U.S.-facing sites still running, including DoylesRoom.com and Golden Palace, and these sites were not part of the deal. It's not yet known how DoylesRoom.com, which has vowed to keep doing business with U.S. customers, will react to the announcement made by Tribeca.
In other business news, Ladbrokes confirmed that it is in the early stages of possibly buying publicly-traded online giant 888 Holdings. In an announcement, Ladbrokes said it's looking into the deal, but that no decision has been made how to proceed.
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