FTSE100 online gambling group GVC Holdings has this morning announced that it has signed an agreement with Playtech Plc ‘covering a new long-term commercial relationship’.
Playtech has formerly served as the lead platform and systems supplier for the GVC acquired properties of Ladbrokes and Coral UK.
Integrating Ladbrokes Coral assets during the course of 2018, industry analysts wondered what type of relationship GVC would maintain with Playtech, as the FTSE enterprise chose to service the UK legacy betting brands, independently through its own proprietary platform.
This morning GVC governance confirms that it has entered commercial agreement set to run until 2025, under which Playtech becomes a ‘key products and services’ provider to GVC’s global brand portfolio.
GVC and Playtech development teams will collaborate strategically to service the MGM-GVC US joint venture ‘ROAR Digital’, a property which seeks to establish itself as the US betting’s leading destination.
Updating stakeholders, Kenneth Alexander Chief Executive of GVC Holdings said: “We are delighted that GVC has been able to agree a long-term relationship with Playtech. Even more of our customers will now be able to enjoy content from one of the world’s leading suppliers of high quality gaming product. At the same time the added flexibility around migration of technology platforms enables us to accelerate the integration of Ladbrokes Coral.”
Further cooperative arrangements, see GVC push for an ‘acceleration of synergy phasing’, which will allow GVC development teams to have a ‘flexibility migrating Ladbrokes Coral to the Group’s in-house technology platform’.
Closing its announcement, GVC confirms that Playtech BGT will secure an extension as lead betting software and self-service wagering terminals for Ladbrokes Coral properties across the UK, Ireland and Belgium.
Backing the agreement, Mor Weizer Group CEO of Playtech Plc said: “We are pleased to have reached a new agreement with GVC, which expands on the successful partnership we have established with Ladbrokes Coral over the last six years. This is testament to the strength of the Playtech proposition and we look forward to supporting GVC over the coming years.”