Playtech Purchases Virtue Fusion
Playtech
Playtech, the casino, poker and bingo software developer which powers the likes of William Hill, has purchased Virtue Fusion, a fellow bingo software provider. As 888 predicted, 2010 has begun with a range of casino industry mergers and acquisitions, and Playtech’s purchase of Virtue Fusion shows that more and more industry giants are keen to get in on the action.
It’s believed Playtech made the decision to purchase Virtue Fusion in an effort to increase the profits gained from its bingo software. Playtech’s CEO, Mor Weizer, told reporters that 2009 had proved to be a big year for bingo and they see the acquisition of Virtue Fusion as “not only” a way of “furthering what is already Playtech's competitive advantage in the growing online gaming market”, but also a way of tapping into potential emerging European markets.
Virtue Fusion currently counts the likes of William Hill Casino and Ladbrokes as its licensees. In the case of the former, it seems that Playtech is keen to cater for all of William Hill’s software needs, as back when the online casino and sportsbook company first signed with Playtech, they were considered their biggest and most well-known licensee so far. In comparison to Playtech’s status as one of the biggest casino software providers, Virtue Fusion had a financial turnover of £12.3 million last year and earnings of £3.8 million.
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