Cookies on the PokerWorks Website

We use cookies to ensure that we give you the best experience on our website. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on the PokerWorks website. However, if you would like to, you can change your cookie settings at any time.

Continue using cookies

Poker News | World Poker News

Playtech Acquires Partnerships in Anticipation of New Gambling Markets

Breaking News
Share this

Online gaming software leader Playtech is positioning for new online gambling markets even before they are available. Playtech made a number of announcements on Tuesday, January 24th, when its financial results for the fourth quarter of 2011 were released; the acquisition of a U.K. sportsbook firm and partnerships with companies in Germany and South Africa were part of the news release.

Playtech CEO Mor Weizer said in a statement: "Growth from our existing business has created a solid platform for 2012."

"Taken together with today's other announcements, I believe Playtech is well positioned to take advantage of market opportunities wherever as and when they appear. It is clear that there is continuing momentum towards regulated gaming in Europe, with Denmark recently launched in regulated form, and both Spain and Belgium due to regulate this year," Weizer said.

Weizer told Reuters that Playtech was encouraged when the U.S. Department of Justice released their statement regarding the Wire Act and Playtech is in talks with numerous potential partners in the U.S. The belief is that the U.S. is preparing for the opening of an online gambling market and Weizer says the company is preparing itself for all new markets.

"We have lots of potential customers that approached us or that we approached that would like to have us as their suppliers of online gaming products when the market opens up," Weizer told Reuters news agency.

Playtech has entered into a 49.99 percent joint venture with Merkur's (German gaming machine business) owner Gauselmann. Offering broad-based sports betting, gaming products, and services, the joint venture has been formed ahead of German regulation.

Casino and resort operator Peermont, based in South Africa, has also formed a 50-50 partnership with Playtech. This partnership will begin by offering sports betting and moving forward by adding a broad-based platform once the new regulation has been introduced.

Playtech also purchased U.K. based sportsbook developer, Geneity, for an initial cash consideration of £11 million. Playtech's existing sportsbook will be replaced by Geneity's sportsbook.

Follow PokerWorks on Twitter! And like us on Facebook to stay updated with poker news, events, and promotions.

News Flash

The IRS Scores Big at 2015 WSOP ME Final Table

The IRS managed to snag 34.13 percent from the payouts of the 2015 November Nine, totaling $8,467,091.

Read more

Quick Room Review

Bonus Room review

Subscribe to the Nightly Turbo

Be the first to know all the latest poker news, tournament results, gossip and learn all about the best online poker deals straight from your inbox.

RSS Feed