Playtech Signs Deal with U.S. Partner

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By signing a major deal with New York based and NASDAQ listed Scientific Games Corporation, Playtech has announced its preparedness to re-enter the American online gaming market as and when that becomes regulated. This deal also resulted in the Playtech shares rising by 11%.

Playtech is a leading online gaming software provider whose strength lies in its B2B gaming software and portfolio of products. Scientific Games is known for its nearly 40 years record of providing added value, turnkey solutions to government sponsored (B2G) gaming operators in regulated and soon-to-be-regulated markets. The agreement consists of two specific components. The first is the formation of a 50:50 joint venture called Sciplay, which will focus on the B2G online gaming market on a global basis. One of the most important target markets for Sciplay will be the US state lotteries. Sciplay will deliver to government customers a complete range of online gaming products like instant games, casino, poker, bingo, sports and skill games on a single platform. Sciplay will also offer marketing, advertising, promotional, operational and customer support services that will include hosting, payment processing, content management, customer relationship marketing and affiliate management. The solutions offered by Sciplay will totally comply with the regulatory requirements and will contain responsible gaming safeguards. Playtech and Scientific Games have appointed Richard M. Weil as managing director of Sciplay. Weil had earlier served as Vice President of International Sales for Scientific Games and had then joined Fun Technologies as President.

The second part of the agreement entails that Playtech's Videobet will develop gaming terminal software for Scientific Games and its subsidiary The Global Draw. One of the specific assignments in this regard is the up gradation of the existing 13,500 fixed odds betting terminals (FOBT) of The Global Draw in the United Kingdom to the Videobet platform. This part of the agreement also covers joint marketing opportunities globally for video lottery terminals (VLT) and FOBT and the development of next generation regulatory reporting and management systems for gaming terminals. Once these agreements are given effect Videobet will become the leading technology supplier to the United Kingdom online gaming sector.

Mor Weizer, Chief Executive Officer of Playtech and Mike Chambrello, Chief Executive Officer of Scientific Games issued a joint statement saying, "This is an important step for both companies. We have highly complementary skill-sets allied with a global reach and this partnership provides the opportunity to leverage off this combined know-how to maximum effect." The statement added that customers would benefit from the content, the sophisticated player management systems and the long-standing industry experience of the partners in providing highly secure, regulated, compliance-oriented services.

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