Sports betting for Playtech
Online software developer Playtech, which reported a net profit of 40.7 million dollars over 2008, is adding sports betting to its already large list of services and software. This is because Playtech has bought Player2Players, a Cyprus based developer of betting exchange and sportsbook software. Playtech already one of the market leaders, with their iPoker network, can now offer their licensees a larger scale of products, including casino, poker, bingo, mobile gambling, live gambling, sports betting and land based games.
Playtech also announced that they finished the terms of agreement for Gamenet, to join Playtechs Italian Poker network. CRIGA owner of Gamenet, is one of the biggest network providers of regulated slot machines in Italy. This agreement will boost Playtechs Italian Network, already existing of SNAI, SISAL, Eurobet Italy and COGETECH. Also Playtech stated that profit from online casino William Hill Online rose with 40 percent on comparable numbers prior to the deal.
Last year, Playtech bought a series of licenses, businesses and contracts, and sold them for 250 million dollars to the bookmaker to establish William Hill Online, in exchange for a 29 percent stake in the company. Playtechs model of hunting down important licences, wins the thrust of several analyst, chief executive Mor Weizer said this kind of deals are important for the growth of the company in country’s that regulate online gambling.