Member Article

Bingo! Playtech makes £15m ECM acquisition

Software firm Playtech has acquired bingo software and hardware solutions provider ECM Systems for £14.9m.

Playtech, which provides turnkey solution packages for online casinos that include software, hosting, customer service, and transaction management, has taken on 90% of the issued share capital of ECM.

The remaining 10%, which is subject to put and call options capped at £1.1m, is held by Allen Richardson who will remain as CEO of the business for the next 3 years.

ECM, which supplies software and support services to the UK retail bingo market, including major operators Gala Leisure, Mecca Bingo and the leading independent bingo operators, reported revenues of £9.1m and adjusted EBITDA of £4.5m for FY16.

Its systems provide key facilities for Main Stage Bingo, Cash Bingo, wide area linked gaming operations and front-of-house reporting. A complete customer support facility provides technical and repair services for all current and legacy products.

The last few years have seen ECM invest in expanding its digital strategy. As a result, ECM is the leading provider and licensor of digital bingo software for a wide range of handheld tablets known as Electronic Bingo Terminals (EBT), and 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.”