Re Agreement

RNS Number : 8858O

Playtech Limited

16 March 2009

 



Playtech Ltd

('Playtech' or 'the Company')

Playtech enters regulated Spanish market with Casino Grand Madrid agreement

Playtech (AIM: PTEC), the international designer, developer and licensor of software to the online gaming industry, today announces that it has signed a new licensing agreement to supply its market leading online casino and poker products to Casino Gran Madrid ('CGM'), one of the largest and most prestigious land based gaming operators in Europe. 

Under the terms of the license agreement, Playtech will provide CGM with its casino platform and poker product, through the iPoker network, as the operator launches its online operations. 

Commenting on the agreement Mor Weizer, Chief Executive Officer of Playtech, said: 

'We are delighted to have secured this agreement with one of Europe's largest and most respected land based operators. We expect this to be a significantly value accretive relationship, exemplifying our strategy to increase the number of regulated markets in which we operate.'

Both parties are committed to meeting all the Spanish regulatory requirements. CGM has also been working closely with Playtech's development and customer support teams to devise a suite of products tailored to meet the unique demands of CGM's players, offering a huge variety of games specifically designed to appeal to the gaming patterns of CGM's customer base. 

Mr Weizer continued: 

'As a leading industry player we are pleased to add further regulated markets to our sphere of operations. Playtech's gaming platform is supported by a transparent and efficient management system which an increasing number of customers view as integral to their future business plans.'

Jorge Casanova, Director of Information Systems of Casino Gran Madrid concluded:

'Our agreement with Playtech strengthens CGM's leading position in the Spanish casino market. With our casino brand and games available online we are delighted to be leading gaming development in Spain through Playtech's innovative, secure and transparent system.'

- Ends - 

For further information contact:

Mor Weizer, CEO, Playtech Ltd  Shuki Barak, CFO, Playtech Ltd c/o Bell Pottinger Corporate & Financial	[phone]
Piers Coombs / Bruce Garrow Collins Stewart	[phone]
Mumtaz Naseem  Deutsche Bank	[phone]
David Rydell / Olly Scott / Helen Tarbet Bell Pottinger Corporate & Financial	[phone]

About Playtech

Playtech develops unified software platforms for the online and land based gambling industry, primarily targeting existing online operators wanting to upgrade their system; sportsbooks looking to diversify and land-based operators making their online debut. Playtech gaming applications - online casino, poker, bingo, mobile gaming, live gaming, land-based kiosk networks and fixed-odds games - are fully inter-compatible and can be freely incorporated as stand-alone applications, accessed and funded by players through the same user account and managed by the operator by means of a single powerful management interface. Founded in 1999, Playtech has over 750 personnel distributed globally, around 75% of whom are engaged in research and development of current and future gaming technologies.

www.playtech.com

About CGM 

Casino Gran Madrid (CGM), established in 1981, is one of the most important gambling institutions in Europe, in terms of surface area, building volume, share of operations and chip traffic. To date, nearly 15.5 million visitors have been to the facilities, and every year, an average of 500,000 visits are recorded, 100,000 of which are from people visiting the complex for the first time. CGM provides a unique and responsible entertainment alternative, constantly evolving and renewing itself by either adding new spaces, improving existing ones or by adopting the latest technology for the industry with the aim of pleasing our visitors and maintaining a proactive and competitive business strategy. 

 

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