IBID Group acquires Pragmatic Play by purchasing the entire issued share capital of the B2B provider of digital casino games. Pragmatic Play has its offices in Malta and the Isle of Man and is one of the fastest growing developers of mobile and desktop digital casino games for the online gaming market. Thanks to the fact that IBID Group acquires Pragmatic Play, IBID will develop Pragmatic Play into a leading B2B digital gaming provider via some strategic deals with first class licensed content providers. What is more, IBID expects that Pragmatic Play will bolster the senior management team with some new recruits from leading land based gaming product providers.
DAVID BARZILAY, CEO OF THE IBID GROUP:
“This acquisition will further advance and strengthen our growing position in the online gaming sector. 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 realize value. We look forward to working alongside the company’s highly talented team, and to help accelerate its development into a leading provider of digital gaming, Our strategy remains focused on undertaking selective strategic acquisitions that enhance our existing portfolio and where we feel we can create value and deliver meaningful returns to our shareholders.”
Not long ago, Pragmatic Play inked a content distribution deal with online casino operator SlotsMillion, which is best known for its Virtual Reality real-money casino. Following the agreement, Pragmatic Play’s games were launched on the operator’s gaming website.
Moreover, Pragmatic Play has recently signed a partnership agreement with another online gaming software provider, iSoftBet. Under the terms of this agreement, a collection of the provider’s gaming content went live with its new partner. Pragmatic Play has also been awarded a Class 4 License by the Malta Gaming Authority. Thanks to the license, the provider may handle gaming licensing for its B2B clients and can host and manage gaming operations on behalf of multiple online gambling operators.
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