SBC News Playtech plans UK POC supplier strategy

Playtech plans UK POC supplier strategy

morweizer
Mor Weizer – Playtech

Playtech senior management have stated that it will renegotiate supplier terms with its operators, in order to prepare its igaming technology and provisions network for the changes in market conditions that will be applied by the imminent Point of Consumption (POC) tax.

Speaking after Playtech’s Q3 corporate performance presentation, Chief Financial Officer Ron Hoffman said that the company had begun to re-negotiate with its key clients. Hoffman stated that the UK amendments to supplier terms had become a priority for Playtech’s  UK strategy and operations.

Hoffman claimed that Playtech would offer to absorb some of the 15% gaming revenue impact to UK operators bottom lines, when the POC tax comes into play on 1 December.

Chief Executive Mor Weizer stated that Playtech would review its licensee’s positions, with smaller operators set to struggle in 2015. As a technology and igaming network provider Playtech will offer smaller UK operators the ability to offer UK online betting and gaming services under Playtech’s B2C licence.

“We offered them an alternative, which is a full turnkey solution. We obviously need to hold the licence ourselves, [but] this is a model that we have been doing for many years since we acquired the Virtue Fusion bingo business,” Weizer commented.

Playtech governance stated that it viewed no conflict of interest, by offering B2C licence for smaller UK operators. The technology provider claimed that the B2C licence offered a more manageable solution that seeing operators withdraw from the UK market.

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