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Guernsey based online bingo firm bought by Playtech for £50m

Found in: Blog  -  

Author: Locate Guernsey

Eyecon, a major online bingo company with 70 titles in its portfolio, achieving more than 6 billion spins per year from players, has been bought by Playtech, the world’s largest gambling software and services supplier, for £50m.

Eyecon was founded in 1997 and has been operating in Guernsey since 2013 and is licensed by the Alderney Gambling Control Commission (AGCC). In 2015 Eyecon moved its head office to Guernsey, staying in close contact with Locate Guernsey throughout.

Guernsey based online bingo firm bought by Playtech for £50m

Above: Alderney

Scott Murray, Eyecon Founder, said that he was delighted that Eyecon was joining the ‘Playtech family’. This deal would afford Eyecon exciting opportunities for greater distribution of their services which hopefully will see the business grow further.

Andrew Carey, Relationship Manager – Locate Guernsey said:

“We helped Eyecon with early questions about getting key staff on board. That meant giving guidance on the housing licence and immigration process as some of the key skills required were not just scarce in Guernsey, but also in the EU, so an international solution was needed. Obviously we’re pleased that the business has gone on to flourish so well and wish them even greater success in future.”

“As their head office is located in Guernsey, we hope to see this new growth creating more employment opportunities for local people and awareness of the business friendly environment in Guernsey.”

The sale is seen as part of Playtech’s strategy to acquire bolt-on technology and content in key gaming markets. The first £25m has been paid up front for the businesses and the second £25m is payable if the business hits key targets over the next three years.