Aristocrat Leisure Limited (ASX: ALL) is flat in early trading on the announcement it has obtained all necessary regulatory and other approvals with respect to its agreement to acquire Israeli-based social gaming company Plarium Global Limited, completing the acquisition.
Aristocrat Leisure Limited operates as a developer, manufacturer and distributor of gaming content, platforms and systems in Australia, New Zealand, Americas and Japan. Aristocrat also operates within the on-line social gaming and real money wager markets.
Aristocrat's CEO and MD, Trevor Croker expects the acquisition to be EPSA accretive in year one and stated key management personnel have remained in the business.
This acquisition will increase Aristocrat's presence in the high-growth mobile gaming market and substantially increases the digital segment's pro forma earnings contribution to Aristocrat.
The share price has risen 1,000% since a low of $1.99 in 2011 to $22.40 today and trades on a P/E of 32 and dividend yield of 1.28%.
