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Poker.co.uk - Poker News Archive

Tuesday 27th November 2007

Details Emerge on ‘Mystery’ Playtech Deal

Online casino software provider Playtech has announced that the deal it signed late last week with an Asia-facing licensee is to run for three years and could be worth up to five millions dollars during its first year.

The Isle Of Man-based developer announced the deal to the London Stock Exchange on Friday but did not disclose the name of the Asian online gaming firm for ‘reasons of confidentiality’.

News of the deal pushed Playtech’s shares up by four percent, which was a further advance on the nine percent increase seen over the past two months, to value the firm at $1.6 billion.

'I have seen some estimates with which we feel confident that it will be worth four to five million dollars in revenue in 2008,' said Mor Weizer, Chief Executive Officer for Playtech.

Malaysia, Macau, The Philippines, Cambodia, Korea, Vietnam, Laos Singapore and Japan all allow some forms of online gambling while China is expected to gradually allow new avenues for gaming.

Weizer said that the deal would see Playtech provide Asian games Do-Di-Zhu, Cho-Da-Di and 13-card Poker with more games planned for next year. He added that the company was still looking to buy rivals in order to bolster its position as an industry leader.

'Acquisitions remain a target for us,” said Weizer.

“We are moving forward with that and analysing the market.'

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Source: OnlineCasinoNews

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