Playtech News

February 1, 2012

The first piece of news from Playtech comes in the form of restructuring of SciPlay. This is the name of the co-venture operated by Scientific Gaming and Playtech. The restructuring of SciPlay is designed to overcome some administrative problems, as well as simplify accounting. The main change to the structure and agreement of SciPlay is that Playtech will no longer be limited from licensing its products to other online casino operators outside of the SciPlay agreement. SciPlay will also become a fully owned subsidiary company of Scientific Games. In effect, it appears Playtech are handing over the keys to the door, after packing their bags and leaving with their most treasured possessions. In reality, by removing the trading restrictions on Playtech, SciPlay is ensuring that it can still benefit from the partnership, even though Playtech are obviously focusing elsewhere. Reading between the lines, our best guess is that Playtech played hard ball, and told Scientific Gaming it’s this or nothing.

Playtech have also announced that they are working on building trading partnerships with U.S. based online casino operators who have now had their options broadened due to the changes to U.S. gambling legislation pushed through at the end of last year. Playtech have also said that they have some plans of their own in development for entering the U.S. market in their own right.

Playtech have also stated that they continue to see Jersey, one of the Channels Islands, as an ideal base. Last year they were approached by representatives from Jersey who aimed a sales pitch at Playtech, pointing out the many benefits for any business operating in the online gambling market which Jersey has to offer. As a result of this, Playtech subsequently applied for a Jersey gambling license. Although not much was heard following this, it does now seem that Playtech are serious about continuing with their application for this gambling license in jersey, despite the confusion caused by the newly opened U.S. market.

Overall, Playtech continue to go from strength to strength. In the last year they have managed to grab a larger market share and successfully compete with both Microgaming and Net Entertainment. We predict another bumper year for Playtech this year, and look forward to their 2012 financial reports.

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