Playtech chief’s on lookout for deals as firm’s cash pile grows

GAMING software firm Playtech is searching for potential acquisitions, announcing the intention to snap up other businesses at its annual general meeting yesterday.

“The board, with its advisers, continues to review the most effective use of the company’s cash resources, assessing the potential for further value-enhancing acquisitions,” said Playtech chairman Alan Jackson.

The group has a cash position of €527.4m (£312.64m) after solid results, with total revenue up by 17 per cent during 2013.

Jackson mentioned previous agreements, including two with Ladbrokes undertaken last year. The comments helped Ladbrokes’ share price to end up 3.7 per cent at 138.5p yesterday. Playtech stock, meanwhile, closed up 3.9 per cent at 607p.

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