Having made a whole host of recent company mergers and with a list of potentials as long as the Golden Gate Bridge, Playtech seem to be on a roll when it comes to new acquisitions. This time around they’ve managed to bag an industry legend as well.
Ian Chuter, the 25 year gambling industry veteran, perhaps known best for his previous success with both William Hill as Director of Group Operations and Betfair, joins the Playtech fold as the company’s new Strategic Advisor. This new appointment is likely to see him oversee different areas of Playtech’s business, more specifically he will be assigned to advise on gaming issues, sports betting solutions plus any new mergers and acquisitions the company may undertake in the future.
It’s not the first time the two entities have crossed paths, Chuter was part of the team that was involved in negotiating William Hill’s previous joint venture with Playtech around 2008. It was during these negotiations that they re-acquired Playtech’s 29% share in William Hill’s business for a cool $400 Million in 2013.
The future looks very bright for Playtech, who in June 2015 were involved the acquisition of Plus500, a foreign exchange trading company, for $699 Million. Chuter was quoted this week as saying “I know the management team very well from my days at William Hill and am really looking forward to working closely with them on a number of very exciting projects”. It remains to be seen what Chuter will bring to the table but if his track record is anything to go by then Playtech have made one of their most important business acquisitions to date.