Gametime for Playtech as it acquires bingo business in £15m deal
GAMING software giant Playtech has bought the major shareholding in a Hull supplier to the bingo industry.
90% of ECM Systems has been bought by the €630m-turnover Isle of Man-based business in a deal worth £14.9m.
The remaining 10%, which is conditional and capped at £1.1m, is held by Allen Richardson who will remain as CEO of the business for the next 3 years.
ECM specialises in supplying software and hardware to the bingo industry, including operators Gala Leisure and Mecca Bingo.
Playtech said that ECM was “instrumental” in the daily operation of the UK’s retail bingo sector.
ECM has expanded its digital and omnichannel strategy in recent years, becoming a provider and licensor of digital bingo software for a wide range of handheld tablets known as Electronic Bingo Terminals (EBT) – this generates a significant proportion of its revenues.
Mor Weizer, Chief Executive of Playtech, commented: “ECM has a leading position within the bingo hall sector, including its extensive range of handheld devices that enable players to enjoy a digital experience within a familiar retail environment.
“This is a significant step in strengthening and expanding our Playtech ONE offering within the bingo sector and we look forward to working with Allen and the whole ECM team.”
Founded in 1999, Playtech now has more than 5,000 employees in 13 countries.
