Playtech Share News (PTEC)

(Sharecast News) - Gambling software company Playtech said on Wednesday that it has signed a new, expanded long-term strategic software and services agreement with state-owned, land-based casino operator Holland Casino.
Playtech said the agreement is a "significant" strategic step for the company, building on its track record of developing newly-regulated online markets.

Holland Casino operates 14 casinos across the country and will also expand into the online space, offering betting and gaming products. The online gambling market in the Netherlands is expected to launch in October.

Under the agreement, Playtech will become Holland Casino's strategic technology supplier, delivering its full turnkey multichannel technology as well as certain ancillary services. Playtech will also build a Live Casino facility in the immediate vicinity of one of Holland Casino's existing locations.

Chief executive officer Mor Weizer said: "We are delighted to announce this strategic cooperation with Holland Casino. The brand strength and local presence of Holland Casino combined with Playtech's 20 years of technology leadership in the industry will see us drive the online growth of the market in Holland.

"We look forward to working with Holland Casino to offer the highest quality, most comprehensive responsible gambling entertainment experience across retail and online in the Dutch market."

Numis said: "The agreement sounds very comprehensive, encompassing its IMS, sportsbetting, online casino, live casino, poker and bingo products as well as certain operational and marketing services, however, as it the often the case with Playtech releases, the materiality of the agreement is not quantified.

"Nevertheless, this is a good example of where we think Playtech excels - in using its world-leading technology and digital products to partner a strong local land-based brand; it did this for William Hill, Coral, Ladbrokes and more recently Caliente in Mexico."