Tag Archives: playtech

Playtech’s ‘interrupted Snaitech’ bears brunt of COVID-19 disruptions

Playtech Plc will trade with caution for the remainder of 2020, as its business units emerge from a ‘disrupted period’, with its corporate outlook dependent on further COVID-19 outcomes.    Publishing its 2020 interim results (period ending 30 June), Playtech recorded a 23% drop in corporate revenues to €564 million, (H1 2019: €728m) as the FTSE250 technology group absorbed a series …

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Jason Ader – No Boogeyman… Activism will play a vital part in reshaping gambling

Jason Ader has stated that his company SpringOwl, an ‘independent sponsor and buyout firm’, is tracking all developments of a disrupted global gambling landscape as ‘the pandemic has opened the market’. Speaking to SBC, Ader stated that he is neither undeterred by talk of ‘doom-and-gloom’ nor swayed by easy rhetoric related to ‘business accelerations’. Instead, Ader recognises that global gambling …

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Playtech goes live in the US with bet365

Playtech has entered the US market after agreeing to make its entire casino content suite available with long-term strategic partner bet365 in New Jersey. bet365 first entered the New Jersey market in 2019, making its sportsbook and online casino services to customers in the Garden State. A bet365 spokesperson, said: “We’re excited to partner with Playtech in order to expand …

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Retail closures have ‘severe’ impact on Playtech

Playtech has praised its company’s resilience in navigating COVID-19 realities, despite its B2B and B2C gambling divisions taking a ‘severe’ hit. Issuing an update on its first-half performance and current trading, Playtech noted that adjusted EBITDA amounted to ‘more than €160 million’, which was largely driven by the company’s online division and TradeTech performance. Mor Weizer, CEO, commented: “Thanks to …

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Playtech offloads casual games subsidiaries 

Playtech Plc has offloaded its casual games subsidiaries FTX Games and Plamee Studios to US games publisher Tilting Point, following an undisclosed agreement. Games news sources report that Tilting Point has agreed to take over all major IPs and key employees of FTX Games and Plamee. In 2014, Playtech launched its Plamee casual games studio, a subsidiary division formed by …

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Mansion orders Playtech sports betting upgrade for casino properties

Mansion Group has expanded its lead technology supplier agreement with Playtech Plc, adding a further sportsbook platform for its Casino.com property. The product and services extension follows Mansion renewing contract terms with Playtech as its lead technology and platform supplier for a further five-years. Updating stakeholders, Mansion confirmed that it seeks to expand Casino.com’s capacity by adding new sportsbook components, alongside …

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Playtech eyes US acceleration following NJ approval

Playtech has been granted regulatory approval by New Jersey’s DGE, allowing the technology group to provide casino product services to state licensed incumbents.  The FTSE250 technology group will launch its casino products in the Garden State, servicing long-term partner bet365’s transactional waiver with the Hard Rock Atlantic City property. Securing its DGE approval, Playtech detailed that it is actively seeking …

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Winning Post: Pre-COVID fragility doesn’t bode well for UK gambling

Regulus Partners begins the week by looking at the gambling industry’s perceived fragility pre-COVID and the Swedish ministerial ‘climb down’ on deposit and bonus limits. UK: Regulation – Daily Mail relieves Gambling Commission of duty It seems that one of the effects of Covid-19 has been an abacus shortage in officialdom, so little do matters add up anymore. This week, …

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Playtech calls for internal review following PTES failures 

Playtech will implement a review of the ‘group’s position’ led by Interim chair Claire Milne, in response to the UK Gambling Commission (UKGC) publishing its investigation into ‘systemic failings’ of defunct subsidiary PT Entertainment Services (PTES).  The Board of FTSE technology group confirmed that it ‘takes full responsibility and apologises for the regulatory breaches’, emphasising that the AML and social …

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UKGC publishes customer neglect findings of PTES

The UK Gambling Commission (UKGC) has published its investigation findings on defunct online betting group PT Entertainment Services (PTES), the operating company for winner.co.uk and Titanbet (titanbet.co.uk) A Playtech B2C subsidiary, PTES voluntarily surrendered the licences for its entire brand portfolio from the UK market during an investigation by the Commission on suspicion of systemic operating failures.  The UKGC began …

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