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Playtech Partners with Betfair - 06-05-09 |
June 5 - Another lucrative licensing deal has been signed in the online gambling industry, this time between the giant software company, Playtech and the UK gaming group, Betfair.
Under the terms of the licensing deal, Playtech will provide Betfair with bingo and casino games, as well as a range of other betting services.
This marks a first for Betfair as the group has not offered its players bingo in the past. However, with the growing popularity of the game and a need to diversify its product line, Betfair is now able to offer quality bingo software.
While it was not revealed that Betfair would also offer Playtech poker, it is believed that the idea is being discussed by both sides.
Betfair is now joining other top names in the online gambling industry such as Paddy Power, Betfred and William Hill who also bring their players top quality Playtech software and innovative games.
The Chief Executive Officer of Playtech, Mor Weizer said the deal was "a significant endorsement of Playtech's market leading gaming products and this partnership exemplifies our strategy of rapidly expanding our licensee roster... across all markets."
"We see the Betfair agreement as highly significant in terms of revenue potential, geographic reach and as a clear endorsement of Playtech's market-leading products and services," said an analyst with Collins Stewards, Playtech's house broker.
Playtech shares jumped 10% in London following the news of the new licensing deal.
Betfair will continue to run games provided to it by Wagerworks and Orbis.
Read our Betfair casino review.
Be sure to visit some of our other recommended Playtech casinos.
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