$2.7 million Contract Awards

Synectics PLC

05 December 2024

 

5 December 2024

Synectics plc

("Synectics" or the "Company")

$2.7 million Contract Awards

Synectics selected to deploy its flagship Synergy software in casinos in the Philippines and the US

Synectics plc (AIM: SNX), a leader in advanced security and surveillance systems, is pleased to announce that it has been awarded four separate contracts from customers in the gaming sector totalling US$2.7 million (together, the "Contracts").

The Company will deploy its flagship Synergy software platform into two leading gaming resorts in the Philippines, having signed contracts with two new customers. Synergy was selected for its comprehensive suite of features and tailorable solution, specifically designed for control rooms that require the highest level of surveillance and security.

In addition, Synectics has further strengthened its long-standing partnership with PENN Entertainment, Inc. (NASDAQ: PENN) by securing a further two new contracts to deploy Synergy software at two additional casinos in PENN Entertainment's portfolio. This expansion brings the total number of Synergy installations at PENN Entertainment properties to 25.

The Contracts are expected to be delivered in the Company's current financial year ending 30 November 2025.

Amanda Larnder, Chief Executive Officer and Chief Financial Officer, commented:

"Today's announcement demonstrates our positive momentum in the gaming market, and the continued demand for our innovative, market-leading surveillance and security technology. We are delighted to be collaborating with two new customers in the Philippines, further expanding our footprint in the region.

"Additionally, our continued partnership with PENN Entertainment demonstrates the enduring value and adaptability of Synergy in supporting PENN's complex security and surveillance needs across its portfolio."

For further information, please contact:

Synectics plc Amanda Larnder, Chief Executive Officer and Chief Financial Officer Claire Stewart, Company Secretary email: [e-mail]	Tel: [phone] www.synecticsplc.com
Shore Capital	Tel: [phone]
Corporate Advisory - Tom Griffiths / David Coaten / Rachel Goldstein Corporate Broking - Fiona Conroy
Vigo Consulting   Jeremy Garcia / Fiona Hetherington / Peter Jacob [e-mail]	Tel: [phone]

About Synectics plc

Synectics (AIM: SNX) is a leader in advanced security and surveillance systems that help protect people, property, communities, and assets around the world.

The Company's expertise is in providing solutions for specific markets where security and surveillance are critical to operations. These include gaming, oil and gas, public space, transport, and critical infrastructure.

Synectics has deep industry experience in these markets and works closely with customers to deliver solutions that are tailored to meet their needs. Technical excellence, combined with decades of experience and long-standing customer relationships, provides fundamental differentiation from mainstream suppliers and makes the Company a stand-out in its field.

Find out more at www.synecticsplc.com

 

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