IBID Group completes Pragmatic Play takeover

Money is moving around the online casino realm at a rate of knots right now, with mergers and takeovers occurring regularly. Adding to the long list of such is a deal that has seen Investment development company IBID Group acquire online casino gaming developer Pragmatic Play. The deal, which has been rumoured for some time, represents a major move for IBID Group, as they have stated that they wish to invest heavily into Pragmatic Play in order to make it a market leader in the B2B provision of digital gaming content.

‘Broaden Their Appeal’

The track record of IBID from an investment standpoint makes for pretty clear reading, as they tend to buy Internet-based companies, with the goal being to broaden their appeal. The challenge for Pragamtic Play is a lofty one, as it will be pushed to stand amidst an already incredibly crowded market place. While future plans are not currently known, it seems that from the first the thing IBID will do is expand Pragmatic Plays corporate structure through the addition of an increased senior management team. IBID has also discussed plans to look into working relationships with other noted content providers in order to expand the brand’s outreach.IBID Group completes Pragmatic Play takeover

Expand Portfolio

Speaking on the acquisition, David Barzilay (IBID Chief Executive) said, “The acquisition of Pragmatic Play is in line with IBID’s strategy of acquiring companies that enable us to control the whole gaming supply chain from payments and content providers to operations and B2C marketing. This acquisition will further advance and strengthen our growing position in the online gaming sector”. He also spoke on what it means for the expansion of the IBID portfolio, “The addition of Pragmatic Play widens our current portfolio of companies with high growth potential and that we feel will generate significant returns for our long-term investors. We believe that we have the right team and expertise to help Pragmatic Play unlock its growth potential and realise value”.  

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