Czech Republic lottery and betting firm Synot Group has linked up with South African gaming company Grand Parade Investments (GPI) to acquire minority stakes in Australian gaming machine manufacturer Atlas Gaming.
Although the terms of the terms of the deal were not officially disclosed, media reports suggest Synot and GPI will each take a 5% stake in the company.
In a statement confirming the deal, Synot said it will work with GPI to expand the reach of Atlas Gaming and the distribution of its products in countries around the world.
“This young company has completed a development of the first gaming platforms, however, the company suffered from a lack of investors,” Synot sales director Miroslav Valenta Jr. said.
“And given that our company extends its presence to many destinations all around the world and cooperates with global suppliers, we have decided to support this promising company.
“We do not perceive this collaboration only as an investment; this common project corresponds with our long-term strategy, which is about finding new markets.”
In its own statement confirming the deal, Atlas Gaming said it has already been working with GPI to launch its products in South Africa.
The statement added: “Initial EGM sales have been secured and there is the potential for a multi-million dollar sale to a major gaming operator in South Africa.”
source : www.igamingbusiness.com