New long-term agreement with GVC until 2025

RNS Number : 2470R

Playtech PLC

27 February 2019

 

Playtech PLC

('Playtech' or the 'Company')

Playtech signs new long-term agreement with GVC until 2025

Playtech plc ("Playtech") today announces that it has signed a new long-term agreement with GVC Holdings PLC ("GVC"). Under the agreement, Playtech will provide its leading services and products to all GVC brands, in existing and new markets.

This represents a significant extension in scope and duration to the current arrangements with the group. Through a portfolio of global and local established brands, GVC has one of the largest online gaming businesses in the world. For the first time, many of GVC's brands will have access to Playtech's proven suite of content and products. Playtech and GVC have also agreed to work together to integrate Playtech's products and services onto the GVC platform in order that they can be made available to the MGM-GVC JV, ROAR Digital.

In addition, this partnership will see an extension of the agreement for Playtech BGT Sports to supply Ladbrokes Coral with the software for its suite of self-service betting terminals throughout Great Britain, the Republic of Ireland, and Belgium.

Playtech's expectations for 2019 Adjusted EBITDA, announced on 21 February 2019, remain unchanged.

Mor Weizer (Playtech, CEO) said: "We are pleased to have reached a new agreement with GVC, which expands on the successful partnership we have established with Ladbrokes Coral over the last six years. This is testament to the strength of the Playtech proposition and we look forward to supporting GVC over the coming years."

Kenneth Alexander (GVC, CEO) said: "We are delighted that we have been able to agree a long-term relationship with Playtech. Even more of our customers will now be able to enjoy content from one of the world's leading suppliers of high-quality gaming product. At the same time the added flexibility around migration of technology platforms enables us to accelerate the integration of Ladbrokes Coral."

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For further information please contact:

Playtech plc Chris McGinnis, Director of Investor Relations & Strategic Analysis James Newman, Director of Corporate Affairs	[phone]
Headland (PR adviser to Playtech) Lucy Legh, Stephen Malthouse	[phone]

About Playtech

Founded in 1999 and premium listed on the Main Market of the London Stock Exchange, Playtech is a market leader in the gambling and financial trading industries.

Playtech is the gambling industry's leading technology company delivering business intelligence driven gambling software, services, content and platform technology across the industry's most popular product verticals, including, casino, live casino, sports betting, virtual sports, bingo and poker. It is the pioneer of omni-channel gambling technology through its integrated platform technology, Playtech ONE. Playtech ONE delivers data driven marketing expertise, single wallet functionality, CRM and responsible gambling solutions across one single platform across product verticals and across retail and online.

Playtech partners with and invests in the leading brands in regulated and newly regulated markets to deliver its data driven gambling technology across the retail and online value chain. Playtech provides its technology on a B2B basis to the industry's leading retail and online operators, land-based casino groups and government sponsored entities such as lotteries. As of June 2018, through the acquisition of Snaitech, Playtech directly owns and operates the leading sports betting and gaming brand in online and retail in Italy, Snai. Snaitech operates a B2B2C model as a service provider to franchisees in the retail market while operating the leading brand, Snai directly online as a B2C business.

Playtech's Financials Division, named TradeTech Group, is a technology leader in the CFD and financial trading industry and operates both on a B2B and B2C basis.

Playtech has in total c.5,800 employees across 17 countries and is headquartered in the Isle of Man.

 

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