Wed, Jul

New Partnerships for Playtech


New Playtech PartnershipsPlaytech has revealed that it is expecting to enter into a number of new partnerships in online gambling markets that will hopefully open up in the near future.

The international designer, developer and licensor of software and services for the online, mobile and land-based gaming industry has entered into a 49.99% joint venture with Merkur Interactive GmbH, the online division of the Gauselmann Group. In terms of the agreement the two companies will jointly develop an online gaming operation that will concentrate on new opportunities once the German online market is regulated as well as a linked software licensing agreement. It is also hoped that the partnership will provide broad-based gaming and sports betting products and services where acceptable.

The South African government is also contemplating legalizing online gambling and Playtech has entered into a 50-50 partnership with casino and resort operator Peermont to initially offer sports betting. Peermont currently operates 14 properties, nine in South Africa and five in Botswana, including its flagship Emperors Palace Resort in Johannesburg, two casinos as well as seven other casino resorts.  As soon as new legislation comes into effect the partnership will offer broad-based gaming.

Playtech also announced that it has acquired the UK based sports book developer Geneity. Geneity’s clients include Betfair, Ladbrokes and Gala Coral and its sports book will now replace Playtech’s existing product. Geneity products will also be incorporated with Playtech’s Mobenga mobile sports book platform.

Mor Weizer, chief executive of Playtech, reported that the company’s gross income rose by 41% to EURO 243.6 million for the 12 months ending December 31, 2011 and that he believes that Playtech is currently in a good position to take advantage of market opportunities.