Synot and Grand Parade Investments Buy Into Australian Company Atlas Gaming
A unique deal in the gaming world has occured between leading Czech company, Synot, who has teamed up with major South African operator, Grand Parade Investments, to buy a 4.95% share of Atlas Gaming Holdings, an Australian producer of machines.
Each company put in nearly €400,000 for the deal and the objective is to help GPI open up the African market. GPI has used its cash reserves to acquire what it calls “an initial stake” in Atlas. Synot sees itself now as a strategic investment partner of Atlas, which is a specialist producer of machines for the Australian domestic market.
"We perceive this collaboration not just as an investment,” said Synot sales director Miroslav Valenta Jnr. “The joint project corresponds with our long-term strategy, which is to find new markets.
“Such cooperation will have a positive impact on the whole Synot group. Above all, it will increase production and hence employment, especially in the region of Uherské Hradiště in the Czech Republic, "
Following this acquisition of 4.95% of Atlas, both GPI and Synot will each subscribe for a further 5.05% of the share capital of Atlas in 12 months’ time.
“As an investment holding company, GPI’s focus is to invest in companies that will deliver good returns for our shareholders,” said CEO Alan Keet. “For us the deal makes sense as two additional revenue streams will be created.
“The first is the ability to sell new gaming machines into the South African and African markets and the second is that GPI will obtain the contract to manufacture all the gambling machines for the African market in our country.”
The deal has its roots in a meeting held at ICE Totally Gaming in London in February of this year. "We realised that Atlas is a company consisting of world leading experts with years of experience. This young company has completed development of its first gaming platforms and it is gathering investors," said Valenta.
Synot employs 3,000 people in the Czech Republic and other countries and has an annual turnover of around 12bn Czech crowns (€444m). It has expanded into 13 countries, including central Africa and Asia, but mainly operates in Europe where it principally offers gaming machines to the European street market. Synot is now planning to move into the online gaming market.
Tim Brcan, chairman of Atlas Gaming said: “Our focus is to be one of the world’s leading producers and providers of gaming products. This deal will support our global growth strategy and unlock the African and European markets for Atlas.”
News via Intergame
About Atlas Gaming Holdings
Founded in Melbourne in 2011, Atlas Gaming is a new gaming machine manufacturer currently offering an important point of product differentiation in Victoria Clubs and Hotels market. Through intensive investment in Research and Development, Atlas produced a world-class Gaming Machine packed with technological features not available from other manufacturers.