Playtech Online Casinos Preparing for US Patrons
Playtech, one of the world's largest online gambling software developers, is apparently positioning itself to power online casinos in the US. While Playtech hasn't accepted US players since the passage of the UIGEA, many observers think that regulation of Internet casinos by the US is just a matter of time.Playtech boosted its US gambling profile by partnering with Scientific Games Corporation, a deal whose announcement today caused Playtech stock to jump 11 percent during the day. The arrangement is for the two companies to work together developing both online and land gambling products.
The Wall Street Journal quoted James Hollins, an analyst at Daniel Stewart, as saying the deal would be a major assist in getting Playtech contracts with regulated US online casino operators.
Scientific Games would blend its government-compliant gambling products with Playtech's B2B online gaming software under the contract. SciPlay, their joint product, will feature online casino gambling as well as Internet poker.
"This deal sets Playtech apart as the market-leading technology provider in our [coverage] universe, with the means, scale, capabilities and likely traction to build a massive global entity with minimum upfront costs and strong potential returns," Hollins told the Journal.
