IBID Group Completes Pragmatic Play Acquisition

Investment development company IBID Group announced today that it has acquired provider of online casino games Pragmatic Play. The company said that it will be its main goal to turn the gaming software supplier into a leader in the B2B provision of digital gaming content through key partnerships with fellow providers.

IBID is also planning to bolster Pragmatic Play’s senior management team by appointing industry personalities from leading providers of land-based casino products.

Generally speaking, IBID invests in and buys Internet-based companies operating in a number of different sectors. The investment development company aims at releasing its acquisitions’ potential, improving their operations, and securing their profitability and growth.

Commenting on the acquisition deal, IBID Group CEO David Barzilay said that it will further strengthen and grow his company’s position in the online gambling industry. The executive also noted that Pragmatic Play comes as a strategic addition to their portfolio of businesses with high growth potential and that the software supplier will generate considerable returns for the Group’s long-term investors.

Working together with Pragmatic Play’s existing team, IBID is planning to help the company unlock its growth potential and establish itself as one of the leaders in the provision of B2B gaming services and products. Mr. Barzilay concluded his statement by saying that IBID will remain focused on reaching key acquisition deals, thus enhancing its portfolio and creating value in a bid to deliver returns to shareholders.

Earlier this year, Pragmatic Play entered into a content distribution partnership with online casino operator SlotsMillion, best known for creating the first Virtual Reality real-money casino. As a result, Pragmatic Play content went live on the operator’s gaming website. Casino titles by the gaming developer were rolled out in a similar fashion with gaming and sports betting operator Interwetten.

Last month, Pragmatic Play signed a partnership agreement with fellow online gaming software provider iSoftBet, under the terms of which a selection of the latter’s gaming content went live with its new partner.

Earlier this month, Pragmatic Play announced that it had been awarded a Class 4 License by the Malta Gaming Authority. The said license gave the provider the authority to handle gaming licensing for its B2B clients and to host and manage gaming operations on behalf of multiple online gambling operators.

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