Aristocrat Leisure Limited
(ASX:ALL) has inked a deal to divest Aristocrat Lotteries for €10.5 million or about $AUD14.8 million.
The global provider of gaming solutions has entered into an agreement to sell the business to online gaming software supplier Playtech Plc (LSE:PTEC).
The divestment comes two months after Aristocrat bought US competitor Video Gaming Technologies for $1.28 billion.
CEO and Managing Director Jamie Odell says the developments show how the company is sharpening its focus on the business’ strategic strengths.
While the latest sale is subject to certain adjustments and closing conditions Aristocrat expects to tie up the deal this financial year.
Aristocrat has advised the sale will result in a non-cash write off of about $45 million.
Aristocrat Leisure improved its profit to $57.4 million in the first half of the 2014 financial year.
