Aristocrat And VGT Finalise Purchase

Lastmonth,AristocratwasintalkstoacquireVGT,avideogamingfirmfromAmerica。

Now,thetwocompanieshasagreedthattheacquisitionwilltakeplacewithAristocratpaying$1。

3billionforthecompany。

Whenthedealwasfirstreported,possibleacquisitionwasvaluedat$1billion,asVGTisawell-recognisednameintheAmericangamblingmarket。

Lastyear,VGTreportedrevenueworth$236million,so$1。

3billionseemstobeanappropriatepricetagforthecompany。

VGThasbeenupforsaleforseveralyears。

Itisnotknownwhythecompanyhasnotbeensnatchedupuntilnow,butAristocratseemstobetheperfectbuyer。

SinceVGTisagamessuppliertoNativeAmericancasinosacrossthecountry,Aristocrat’sexpertiseintheinternationalpokermachinemarketwillcertainlybenefitVGT’sclients。

TheacquisitionofVGTwillboostAristocrat’smarketshareintheNativeAmericangamblingmarketintheUnitedStatesby5%。

Oncethedealiscomplete,Aristocratwillhavea31%shareofthemarket。

Thiswillgreatlyboostthecompany’sprofitsandinternationalprofileinthegamblingworld。

“Thisisacompellingacquisitionthatwilldeliversignificantvalueacrosskeystrategicsegments,particularlyourleadingUScasinosystemsbusinessandinthefast-growinglinkedprogressiveandjackpotmarkets,”saysAristocratCEOJamieOdell。

AristocratisanAustralian-basedpokermachinemanufacturerthathasbeenmakinggreatstridesinexpandingintotheinternationalvideogamingindustry。

ThecompanyhasavastpresenceinmarketsacrossAsiaandAsia,andisalwayslookingtoexpand。