Aristocrat Set To Take Over Big Fish GamesTia Winter | 23 February 2018
Australian gaming giant Aristocrat Leisure revealed on 30 November that it has purchased one of its online gaming competitors for a massive cash consideration. Aristocrat has now confirmed that it will soon acquire Big Fish Games for NZ$1.44 million, a developer that is currently owned by Churchill Downs Inc and offers numerous social gaming, social casino, and free to play game variants.
Aristocrat Leisure is about to significantly expand its iGaming expire thanks to the new and lucrative deal. Under the terms of the agreement, the firm will inherit Big Fish’s entire portfolio of social casino and pay to play games, including some of the Seattle-based suppliers most popular titles like Big Fish Casino, Fairway Solitaire, and Gummy Drop.
Second Big Q4 Purchase For Firm
Aristocrat is expecting the earnings from the purchased to be accrued within just a year of owning its competitor and overseeing all of its business operations. Already a leader in the realm of digital gaming, Aristocrat’s new acquisition will no doubt drive further growth of its impressive digital content division, according to multiple local experts.
This acquisition has come just after Aristocrat’s purchase of Plarium Global Limited for a consideration of $500 million. The purchase was processed with the aim of boosting Aristocrat’s social casino enterprises, and now its purchase of Big Fish Games shows a very clear change in focus for the Australian firm from traditional casino gaming to the social gaming sphere.
CDI Directors Approve Share Resale
Churchill Downs Limited has revealed that its board of directors has approved the sale, and Aristocrat’s full year profits for 2017 have already risen to $374.4 million, outstripping analysts’ forecasts.
The firm’s prospects for future growth are improving too, considering that its recent acquisitions are fuelling its profitability. The new deal will no doubt assist Aristocrat to refocus its strategies and capabilities within the casino industry.
The acquisition of Big Fish Games is expected to be officially closed by the first quarter of 2018, with proceeds of the sale set to be allocated towards the firm’s corporate ventures and activities, including debt reductions, acquisitions, share purchases, and organic growth prospects. In the meantime, the board of directors at CDI has already approved $500 million’s worth of share repurchases from the sale proceeds of Big Fish.[[[/Main Text area]]]