Playtech and GVC Pair up for ‘Elevation’
On the 7th of November, Playtech announced a new partnership with British gambling conglomerate GVC Holdings. Together, they plan to launch ‘Elevation’, an innovative new Live Casino studio. Players can look forward to classic casino games, such as Blackjack and Roulette, in a modern and exciting setting.
Two Online Gaming Giants
The space is to be designed especially with the unique needs of a live casino in mind. According to Playtech, ‘Elevation’ will be a state-of-the-art facility featuring a range of casino games with live dealers for players to enjoy. To start with, Playtech has revealed that the casino will have five Blackjack tables and a Roulette wheel. The ‘Elevation’ casino will be launched in stages over the course of the next two months. For Playtech, the setting is an integral part of the experience for players. A huge video wall has been constructed to serve as a backdrop for live games depicting a “fully immersive skyline”.
While Playtech has provided countless games for brands owned by GVC, this is the first time that the two companies have collaborated on a venture like this. Playtech’s Chief Operations Officer Shimon Akad is optimistic about working with GVC on this project.
” As the parent company behind some of the most iconic brands in online gambling, GVC has been a key partner for us for many years, and we’re delighted to be extending that partnership with the development of Elevation.”
Akad went on to explain why Playtech has chosen to join forces with GVC to build ‘Elevation. “We’ve significantly invested in our Live Casino technology and facilities in recent years, in addition to continually diversifying our content – so in a year when we’ve done more than ever to enhance our product, it seems only fitting to be working with an industry leader to deliver an ever-more innovative live experience.”
It’s been a busy year for Playtech, as the brand has expanded its operations into an increasing number of markets. The ‘live casino’ niche has been its main focal point, with a range of purpose-built games developed for the market. New titles include All Bets Blackjack, Head Up Hold’em and Quantum Roulette. They also launched what they call their “first dedicated roulette table for the Spanish market”.
“Live Casino is one of the major growth areas in the online gambling market, with players looking for a more immersive, entertainment-driven experience. Significant investment has gone into delivering the first stage of the Elevation studio and we’re delighted with the results”– Shay Segev, Chief Operations Officer, GVC
Two Online Gaming Giants
Playtech is one of the world’s leading software development companies and has created a diverse portfolio of online casino games for operators around the world. Since its launch in 1999, the company has gone from strength to strength. In 2018 Playtech generated revenue of €1.24bn ($1.4 billion), marking a growth of 54%. The company is now listed on the London Stock Exchange and is also a constituent of the FTSE 250 Index.
GVC Holdings is a UK based gambling and sports betting company. Like Playtech, it is also listed on the London Stock Exchange and the FTSE 250 Index. GVC owns a large portfolio of well-known gambling brands, such as Ladbrokes Coral, bwin and Sportingbet. GVC also owns some online gaming brands too, most famously partypoker. With so many high-level gaming brands under its belt, GVC has grown to become one of the biggest betting groups in the world. It is fitting then that two leaders in the industry should partner together for this project.
GVC has gone through some big changes this year. Earlier this month they hired a new Non-Executive Chairman. Barry Gibson was brought in to replace Lee Feldman, who had been with the company for 11 years. In March, Feldman and CEO Kenny Alexander sold off shares valued at £13.7 million. This resulted in a massive drop in the company’s share price, sparking anger amongst shareholders. This controversy put a considerable amount of pressure on GVC to find a replacement for Feldman, which after a seven-month search the company has now done.
Despite a rocky year, GVC does seem to be on an upward trajectory. Its latest venture with Playtech marks a positive new direction for the company, and it couldn’t be in better hands. Playtech has a wealth of experience when it comes to the live casino market. GVC’s COO, Shay Segev had the following to say about Playtech.
“Playtech’s track record and experience in delivering innovative Live Casino technology and content are unsurpassed. We’re looking forward to continuing our successful partnership and delivering a world-class player experience.”
In 2017 Playtech opened the biggest live casino studio in the world. Based in Riga, Latvia, the studio takes up a massive 8,500 square meters. At the time it was fitted with state of the art equipment and sleek designs. The studio was constructed specially to serve Playtech’s growing customer base. Two years later, Playtech’s hold on the market means it has simply outgrown this studio. The Riga studio will continue to operate, and with the addition of the ‘Elevation’ studio, Playtech can continue to offer players from around the globe its ever-popular online casino services.