Playtech Online Gambling Software Seeks New Markets

Published Monday, May 13, 2013 -
Playtech Online Gambling Software Seeks New Markets

Playtech has been nipping at the heels of giant Microgaming for the honour of being the most sought after software for online gambling for some time now and is finding a place on the computers and smartphones of punters everywhere.

Playtech’s forward surge has been helped by the William Hill Online experience and its extended contract with RAY, the Finnish operator. There are already rumours of a purchase of Sportech providing Playtech with more sporting brands like The Football Pools and Vernons as well as a significant share of the lucrative fixed-odds betting terminals market in the UK.

Playtech’s revenues for sports betting at the moment are at just €4.6 million which is far behind its casino revenues leaving room for a challenge that Playtech is sure to take up.

Playtech’s progress appears unchecked. With huge growth in the newest jurisdiction, Asia, a new deal in place with Ladbrokes and a poker network with more liquidity, Plytech is poised to make some real progress and real money for its investors.

The windfall created by the selling off its 29 percent stake in William Hill Online has investors wondering where the firm will put the capital gain. Playtech’s Chief Executive Officer Mor Weizer’s commented on what Playtech is planning to do with this gain in funds, “We are focused on exploring strategic alternatives that will enable us to continue the growth and development of the business.”

As with most software firms with reputations the American market is on the agenda with Mr. Weizer commenting on the US potential, “We are in certain discussions with various groups with regards to different types of partnerships in the US,”

It has been suggested that Playtech will be looking for immediate returns which it can afford and so it is seeking partnership deals with bigger and more substantial land based casino and hotel operators in the USA. Time will tell how well the management team at Playtech deals with their finances.

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