Playtech Software
Playtech is a very unique software provider in that it has developed a unified platform making it easier for players to adapt to.

Playtech Continues to Expand

Playtech continues to expand as they have acquired AvaTrade and TradeFX. Playtech is owned by Israeli billionaire Teddy Sagi and he is making the company more of a player in the financial market.

Playtech has been known as one of the leaders in online gaming software and now they are getting involved in the financial trading market. The addition of AvaTrade complements a recent purchase of TradeFX by Playtech. The agreement for TradeFX had Playtech acquiring more than a 91% stake in the company. The financial results of TradeFX will now be part of those reported by Playtech. “TradeFX's proven management team has a strong cultural fit with our business and is incentivized to stay with the enlarged group. Mor Weizer, chief executive officer of Playtech, said, “The acquisition adds weight to the strong momentum with which we have started the year and which has continued throughout the first quarter.”

Playtech had a very good first quarter in 2015 as sales rose by almost a third. The increase was even more impressive considering the UK introduced a consumption tax on gambling in the UK. All areas for Playtech exhibited growth except for poker. “We have seen a strong start to 2015 with continued execution against our strategy which has delivered both on an operational and financial basis.” Wiezer said, “We have signed new licensees, furthered our relationship with existing licensees and continued to lead industry innovation, including launching an app for the Apple Watch on the day it was released.”

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