Playtech announced yesterday that it has acquired the business and assets of developer and licensor of online bingo products Virtue Fusion.
For Playtech, the acquisition significantly enhances its own bingo offering, brings new licensees and enhances its relationships with a number of existing licensees. By linking the operator’s bingo rooms across the network, Virtue Fusion can facilitate more frequent games being offered and higher prize values and jackpots for the same individual stake.
Commenting on the acquisition, Mor Weizer, CEO of Playtech, said: "In a number of newly regulated markets, bingo is an embedded part of the social and gaming culture and a product which finds early favour with regulators. Consequently we see this acquisition as not only furthering what is already Playtech’s competitive advantage in the growing online gaming market as a whole, but as having the potential to generate meaningful opportunities in newly regulated markets."
The founders and key personnel of Virtue Fusion have contracted to remain with the business for a minimum of two years.
