Aristocrat buys Paltronics assets, eyes expansion


Aristocrat buys Paltronics assets, eyes expansion - 4th July 2014


Profiles

Gaming Casinos Aristocrat Paltronics Entertainment

Australian gaming equipment maker Aristocrat Leisure Ltd has announced the acquisition of all material assets of U.S.-based Paltronics Inc, including intellectual property relating to products. It did not disclose the amount of cash in the deal.

It is the latest in a series of mergers and acquisitions taking place in the casino equipment supply sector.

In a statement on Thursday, Aristocrat said it would maintain its relationship with the independently-owned Paltronics Australasia Pty Limited, which has acted as the exclusive distributor for Paltronics products in Australia, New Zealand and throughout Asia.

Paltronics is a leading supplier of jackpot managers and display systems for casino games. That includes applications for in-game media windows and bonusing applications for electronic gaming machines, video poker machines and table games.

Paltronics jackpot controllers have been deployed in Aristocrat’s linked progressive products, including its Hyperlink and Xtreme Mystery.

The company said the acquisition will further strengthen Aristocrat’s OASIS 360 casino management system product in North America, “while delivering incremental product synergies, access to new technologies and product features, cost savings and integration benefits”.

“This is a compelling acquisition that will deliver significant value across key strategic segments, particularly our leading U.S. casino systems business and in the fast-growing linked progressive and jackpot markets,” Jamie Odell, chief executive of Aristocrat, said in the statement.

Aristocrat says it plans to keep expanding in the U.S. and investing in its core products. Last month, the company confirmed “advanced discussions” about acquiring U.S.-based Video Gaming Technologies Inc.