Supplier News
Canada – Amaya buys US slot manufacturer Diamond Game
By Phil - 17 February 2014
Amaya Gaming Group has bought Diamond Game Enterprises, which designs and manufactures products related to play areas lottery and casino games in the world, for US$25m.
Amaya has paid $18m at the closing out of its cash, with a deduction of U.S. $ 7,000,000 for certain liabilities and other items.
Diamond Game generated revenues of $17.8 m in 2012, derived from fixed and recurring commissions or revenue sharing agreements for its gaming devices.
David Baazov , CEO of Amaya, said: “We are very pleased to have completed the purchase of Diamond Game , innovative company holds numerous patents in the field of technology of the lottery, and to have employees of the company becomes a part of the World team Amaya. The number of investments newest product Lottery Game Diamond , LT-3, has increased significantly over the last year and we expect this growth to continue, particularly in new markets. We intend to integrate technology lottery Diamond Game games of the extensive library of Amaya. In addition, we will use our network of contacts to find new revenue opportunities for Diamond Game, and exploit the relationships Diamond Game in the United States in the area of the lottery to expand the reach solutions Amaya game . We expect this acquisition to be immediately accretive to adjusted EBITDA positive. “
Diamond Game has installed approximately 2,000 devices, located at 100 locations in ten territories. The company has a portfolio of over 60 game titles. It holds permits or approvals in about 10 states, provinces and territories in more than 20 indigenous territories in the United States.
Diamond Game includes two main business units: its casino products division develops products for markets VLT, bingo Class II commercial category III casinos and racetracks, and division of lottery products creates innovative products to market the game to the public and charities, including of course its distributor instant ticket (ITVM) LT-3 distributes tab tickets and scratch tickets and instantly displayed in a fun way the result of each ticket on a video touch screen.
Development by Diamond Game distributor
ITVM with innovative video display has led to the recognition of many product patents. LT-3 is the most recent of his patented feature and its feature set tip top shape. It is designed to remain in office permanently. This allows for longer play sessions and higher sales volumes. Lottery corporations may well expand their retail networks to less traditional places where ordinary slot machines could not be allowed as bingo halls, social clubs, local veterans, bars and taverns .The unit LT-3 can be adapted to the needs and the appearance of the furniture, the display and the type of ticket, among other types, are customizable. Diamond Game currently has LT-3 equipment in place in clubs veterans and bingo halls County Anne Arundel, at Maryland in bingo halls of Ontario, in Canada , in fraternal societies and clubs of veterans in Missouri and in bingo halls and fraternal societies in New Mexico.
