Australian-listed gaming manufacturer Aristocrat Leisure is to buy European gaming giant Playtech after making a cash offer valuing the company at £2.7bn. The Playtech board is unanimously recommending shareholders vote in favour of the deal.

Aristocrat believes the deal will provide material scale in online gaming, provide revenue growth, reach a broader range of customers and ‘operate and innovate’ in the European market through Playtech’s Snaitech B2C operation.

Aristocrat CEO and managing director Trevor Croker explained: “The proposed combination would bring together Aristocrat’s world-class gaming content and customer and regulatory relationships with Playtech’s industry leading global online RMG (real money gaming) platform (B2B) and European B2C footprint.

“The combined group would offer a broad portfolio of end-to-end solutions for gaming customers around the world, as well as seamless player experiences, underpinned by a shared focus on responsible gameplay and innovation.