Flurry of deals to power Playtech in H2
Chief executive Mor Weizer tells eGaming Review recent activity leaves the supplier "well positioned" for growth with sportsbook a key priority
Playtech chief executive Mor Weizer says the supplier is “well positioned” to deliver growth throughout the rest of the year after making a series of announcements during this morning’s H1 results disclosure.
Speaking to eGaming Review, Weizer said the three main deals it had made in the first half of the year “ UK publisher Trinity Mirror, South American gambling operator Caliente and a “major Italian media brand” “ formed part of the company’s strategy for growth.
“We believe these media deals in many cases are very well positioned and we believe the products that we, together with them [media companies], are the right products to launch in the UK and in other cases,” Weizer said.
Having previously outlined the firm’s ambition to become the market leading sportsbook supplier, Weizer also revealed that the firm had made “a lot of progress” with its Geneity sportsbook and revealed a number of tier two operators had launched in recent months, particularly in Eastern Europe.
“It’s definitely gaining traction, and we’re in a good position, but you can’t become number one in one day,” Weizer said. “This is the path we’ve chosen, it will take time, but I’ve no doubt that Playtech will play a key role in the sports betting space and be a key provider going forward.”
Both Caliente and the as yet unnamed Italian media brand will receive online sportsbooks as part of their structured arrangements and Weizer revealed Playtech to be in advanced negotiations “in various spaces” with other operators, with two additional structured agreements completed this week.
Playtech reported a 28% surge in H1 profits with revenues up 21% to 214.4m, and Playtech CFO Ron Hoffman told analysts new business had contributed around 10m to that figure, with more expected from them in the rest of the year.
Weizer also discussed the company’s purchase of a 33.3% stake in bingo and casino operator BGO, dubbing it an “opportunistic” move having known BGO’s founders for some time.
“It’s very similar in line with what we’ve done before with big operators,” Weizer said. “In this case they didn’t need the knowhow, they just needed the money and this is exactly what we intend to achieve with these guys,” he added.