More On Playtech Asian Deal (Update)
Published: Friday, November 23, 2007 Online-Casinos.com
MORE DETAIL ON PLAYTECH ASIAN DEAL (Update)
Further to our earlier Online-Casinos.com/InfoPowa report on the mystery Asian deal announced to the London stock exchange today (Friday) by online gambling software developer Playtech plc, it has been confirmed that the contract is to run for 3 years initially.
According to Reuters, poker and specialist player-to-player games will be supplied to one of Asia's largest online gaming firms, the identity of which remains confidential at the request of the client.
Playtech CEO Mor Weizer told Reuters that the deal would significantly enhance earnings during the second quarter of 2008.
"I have seen some [analyst] estimates with which we feel confident that it [the deal] will be worth $4-5 million in revenue in 2008," he said.
News of the deal pushed shares in the Isle of Man based company up by 4 percent to 376 pence, a further advance on the 9 percent increase in stock price over the past 2 months. The firm is now valued at around GBP 800 million.
Malaysia, Macau, Philippines, Cambodia, Korea, Vietnam, Laos Singapore and Japan all allow some forms of online gambling, while China's government is expected to gradually allow new avenues for gaming.
Weizer said under the new deal Playtech would provide Asian game favourites Do-Di-Zhu, Cho-Da-Di and 13-card Poker and add more games through next year.
He added Playtech was still looking to buy up rivals to bolster its position as an industry leader. "Acquisitions remain a target for us ... We are moving forward with that and analysing the market."
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