UPDATE 1-Playtech raises 112 mln stg in placing
(Adds placing results, detail, background, shares)
LONDON, June 17 (Reuters) - Online gaming software specialist Playtech Ltd (PTEC.L) has raised 112 million pounds ($218.5 million) in a share placing to finance acquisitions, it said on Tuesday.
The group placed shares representing about 9.9 percent of its market value at 520 pence apiece, at a discount of around 5 percent to the closing price on June 16.
At 0828 GMT, shares were down 1.9 percent at 537 pence. Playtech said it intends to use the proceeds to finance the potential exercise of existing options to acquire some affiliate marketing companies or, alternatively, to fund one or more other deals.
The placing is not conditional on the acquisition of these affiliates and there are currently no late stage talks in respect of alternative acquisitions, the company added.
Playtech, which develops unified software platforms for the online gaming industry and focuses on existing operators wanting to update their systems, said acquisitions could bring benefits such as an increased revenue stream from licencees, enhancements to its products portfolio and the provision of additional services to licencees.
"We have demonstrated our ability to leverage acquisitions and believe this placing will provide the group with an extremely strong balance sheet that will allow it to take advantage of further opportunities that the current market offers."Chief Executive Mor Weizer said. (Reporting by Marc Roca, editing by Elizabeth Fullerton)
