Novomatic governance has chosen not to disclose the terms of its acquisition in the Runcorn based company. Under the agreement, the larger Novomatic will take ownership of Playnations UK network, which covers 20,000 amusement machines across 1,700 commercial sites.
Playnation is one of the UK oldest gambling related firms, its arcade machines are synonymous for lighting up Welcome Break and Moto Service stations as well as Pontins and Butlins holiday parks. .
The company has had several owners including brewery Mitchells & Butlers, defunct UK Leisure operator Bass and Inspired Gaming, of which it undertook a management buyout in 2013 backed by private equity firm Palatine. As main investors, Palatine have agreed to the acquisition by Novomatic
Playnation CEO Adam Hodges will also remain at the company as part of the acquisition agreement.
“The Novomatic brand is widely acknowledged here in the UK and around the world for its capacity to innovate and drive up standards,” Hodges said.“Playnation shares those values and, as such, is an impeccable match for the Novomatic UK business model.”
Zane Mersich, chief executive of Novomatic UK, added: “Playnation is a perfect fit within the Novomatic UK group of companies and their respective brands. It will form an important part of the business and help to shape our future strategy in the UK leisure and gaming space.”