Major provider of gambling solutions Playtech announced the acquisition of UK-facing bingo software and hardware supplier ECM Systems. The £14.9-million purchase deal was presented by Playtech CEO Mor Weizer as one that would help his company strengthen and expand its Playtech ONE offering within UK’s bingo sector.
ECM Systems enjoys strong presence in the UK and Republic of Ireland retail bingo markets. The supplier provides major bingo brands Mecca Bingo and Gala Leisure, among others, as well as various independent bingo operators with its offering.
Playtech has acquired a 90% stake in the bingo provider for the approximate amount of £14.9 million. Capped at £1.1-million, the remaining 10% share is currently owned by ECM Systems CEO Allen Richardson. He will remain on his post for the next three years. It is also important to note that his stake is subject to put and call options.
ECM Systems generated revenue of £9.1 million and adjusted EBITDA of £4.5 million during the previous fiscal year.
The company is best known for providing different bingo solutions, front-of-house reporting tools, and technical and repair services for its network of clients. Being recognized as one of the leading licensors and suppliers of bingo software for gaming devices known as Electronic Bingo Terminals, ECM Systems gains a considerable portion of its revenue from the said operations.
The company has been considered a good match for Playtech due to the serious investment it has put into expanding its digital presence over the past several years.
Commenting on their decision to purchase the supplier, Mr. Weizer noted that ECM Systems is positioned as one of the leaders in the UK bingo hall market, particularly given its wide range of hand-held devices that make it possible for players to experience bingo online while being in a familiar retail environment at the same time.
According to Playtech’s Chief Executive, the acquisition deal places his company at the “forefront of the retail bingo market in the UK” and will help it expand the presence of its omni-channel solutions in the bingo sector.
The ECM Systems’ purchase comes as part of Playtech’s efforts to promote its Playtech ONE platform, an omni-channel solution offering diverse gambling products to international operators.
