Playtech eyes Asian deals
As PartyGaming and Playtech look to strengthen their relationship in Asia following the announcement that Playtech has entered into a long term agreement with PartyGaming to provide the software for the casino platforms, shares in PartyGaming have accordingly risen by twelve per cent to 35.5p.
The deal is conditional on the successful sale of casino and bingo websites that PartyGaming agreed to buy at the end of last month from Empire Online Limited (EOL) and Intercontinental Online Gaming Limited (Intercontinental). At present, the deal only requires shareholder approval from EOL.
The websites that will be acquired by PartyGaming and subsequently powered by Playtech include NoblePoker.com, Clubdicecasino.com, EnterCasino.com and MagicBoxCasino.com.
Avigur Zmora, Chief Executive Officer of Playtech, commented:
"This agreement with PartyGaming is a real endorsement from the leading online gaming company and we are delighted to have established this important relationship. The fact that PartyGaming has chosen to continue operating these sites on the Playtech platform is a clear indication of the market leading position that our software holds. We believe that Playtech's software will compliment PartyGaming's existing products whilst providing an additional route to further revenue enhancement. We look forward to a long and successful partnership with PartyGaming."
This partnership looks certain to extend into Asia, with PartyGaming eying up opportunities and Playtech singling out the region for future growth, recently launching online Mahjong and Pachinko in the region.
"If they have serious aspirations in Asia, I'm sure they will shop for product - it's not a product you can develop in one day - and I'm sure Playtech will be one of the leading options," commented Zmora on PartyGaming’s Asia ambitions.
"The second you have a relationship, it's much easier to involve them with new products. Party is looking at similar areas geographically, with the focus in Asia, so it might lead to further business down the line. Asia is the big story for Playtech right now. This is the most lucrative and fastest growing market and everyone wants to tap into it."
Editor, Jackpot.co.uk - 2007-01-03 11:15:39