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Playtech Updates in 2016
U.S.A. A LOW PRIORITY FOR PLAYTECH?
CEO discusses the way forward in post-results media conference.
The traditional post-interim results media conference by Playtech executives this week provided some interesting insights into the companys future plans and present priorities; among the revelations by chief executive officer Mor Weizer were the following:
* Weizer confirmed that Playtech has ambitious international expansion plans and is interested in operating in the growing number of regulated markets, especially in Europe. Asked about possibilities in the United States, he pointed out that at present the legalised online gambling market is relatively small, offering limited opportunities for Playtech, which focuses on markets that are presently more appealing commercially.
In the meantime US developments are monitored, and given the right business potential Playtech would definitely be interested in establishing a presence in every state that opts for legalisation.
* Questioned about merger and acquisition intentions, the Playtech chief said that M&A was a key element in the companys business strategy as it seeks to augment organic growth. He revealed that there were a number of deals currently under discussion or negotiation in both the gaming and financial divisions of Playtech, and that a major consideration is strengthening the number of clients and helping them improve their businesses by offering attractive products to their customers.
* On industry consolidation, Weizer observed that many chief executives are being urged to pursue merger and acquisition opportunities, and that consolidation within the industry will continue to reduce costs and create more powerful businesses.
His own criteria is to first focus on the best opportunity for the company, and finding the right partners. In his personal view, consolidation is a good thing, and illustrates that the sector has matured, he said. It is a trend that will continue, delivering larger, more powerful businesses and better commercial opportunities for Playtech.
* Weizer spoke about the performance of the different verticals, noting that during the first half online casino operations delivered more than half (52 percent) of Playtech revenues, and opining that he expected that this vertical would continue to be a strong performer.
However, he flagged the importance of sports betting and indicated that Playtech would be putting increasing emphasis on growing the sports betting channel in order to service demand from retail operators with a desire to launch an online gaming arm. He predicted that sports would grow "massively" in the years ahead and acts as an effective introduction to gaming, with clients ordering the Playtech omni-channel sports products along with the online casino offerings. The two verticals were therefore complementary and essential for continued growth, with sports becoming critically important in a business sense he opined.
* The future planning of Playtech is centred on ensuring that the group has the right resources and products at the right time in every jurisdiction where it operates or which it might find attractive, Weizer revealed, explaining that this was essential if the company is to secure its position with the right sort of operators and business partners both existing and potential.
He said that the company has a large number of projects underway and others in the pipeline as the company pursues its global growth strategy.
He elaborated on the importance of long and fruitful partnerships, noting that seven of Playtechs Top Ten licensees are now contracted to the company for at least three years, locking in future growth for the company, with others soon likely to follow.
He added that a slew of new licensees across Europe had recently been signed, including a major operator in the burgeoning Central and Eastern European market, where exciting regulatory developments are taking place in the Czech Republic, Poland, Romania and Slovakia.
Danske Spil Bingo Moves to Microgaming -
The national lottery of Denmark, Danske Spil, is live on the Microgaming Bingo Network. Danske Spil, the Danish national lottery, is live on the Microgaming Bingo Network following a change to its licence conditions.
Quickfire live on Strendus -
Quickfire powered by Microgaming is extending its reach in the LatAm region with the signing of Strendus. Strendus is the online division of Logrand Entertainment Group. The group comprises several companies that operate gaming and entertainment establishments in Mexico, running 14 land-based casinos in total.
Quickfire content live on BetatHome -
Online gaming and sports betting company bet-at-home was founded in 1999. Today the company has 4.8 million registered customers around the world, offering sports betting, casino, live casino, Vegas games, poker and virtual sports.
Microgaming has donated £30,000 between four charities -
Gift of Giving provides Microgamingís customers the opportunity to vote for one of several charities in their region. In lieu of Christmas gifts, £30,000 is split equally between four global regions: Isle of Man, UK and Europe, Africa, and Rest of the World.
Entertainment Betting Odds: 90th Academy Awards -
The Shape of Water leads Sundayís 90th Academy Awards (8 PM ET, ABC) with 13 Oscar nominations, but when it comes to Best Picture, this highly-acclaimed film is a +140 second-favorite behind Three Billboards Outside Ebbing, Missouri at Ė115.
Fair Play Bets and QuickFire in Deal -
Fair Play Bets enjoys an unrivalled reputation for an outstanding player experience, with secure deposits and withdrawals, surprising casino bonuses and committed customer support. Fair Play Bets is licensed in UK, Malta and Curacao.
Cavaliers Aim to Take Down Wizards on 2/22/18 -
The Cleveland Cavaliers have looked like a different team since making their moves at the trade deadline. The Washington Wizards are up next for the Cavaliers, who will be at home after the All-Star break.
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