Estimated Time 12 min
August 25, 2020
Playtech has entered the US market after agreeing to make its entire casino content suite available with long-term strategic partner bet365 in New Jersey. The launch came after Playtech received approval from the New Jersey Division of Gaming Enforcement back in June. The supplier giant has long-standing relationships with multiple NJ operators, including GVC (BetMGM) and 888.
bet365 first entered the New Jersey market in 2019, making its sportsbook and online casino services to customers in the Garden State. A bet365 spokesperson said, “We’re excited to partner with Playtech to expand our content offering to the US market. Given the range and calibre of Playtech’s content, being first to market it is a real differentiator for our platform. We look forward to developing upon our already solid partnership as we continue to grow our casino offering.”
Founded in 1999 and listed on the Main Market of the London Stock Exchange, Playtech is a technology leader in the gambling and financial trading industries.
Products and services
Playtech is the gambling industry’s leading technology company, delivering business intelligence-driven gambling software, services, content and platform technology across the industry’s most popular product verticals, including casino, live casino, sports betting, virtual sports, bingo and poker. It is the pioneer of Omni-channel gambling technology through its integrated platform technology, Playtech ONE. Playtech ONE delivers data-driven marketing expertise, single wallet functionality, CRM and responsible gambling solutions across one single platform across product verticals and across retail and online.
Playtech partners with and invests in the leading brands in regulated and newly regulated markets to deliver its data-driven gambling technology across the retail and online value chain. Playtech provides its technology on a B2B basis to the industry’s leading retail and online operators, land-based casino groups and government-sponsored entities such as lotteries. As of June 2018, through the acquisition of Snaitech, Playtech directly owns and operates the leading sports betting and gaming brand in online and retail in Italy, Snai. Snaitech operates a B2B2C model as a service provider, allowing franchisees to utilise the Playtech technology stack in the retail environment while operating the leading brand, Snai, directly online as a B2C business.
Playtech’s Financials Division, named TradeTech Group, is a technology leader in the CFD and financial trading industry and operates both on a B2B and B2C basis.
The terms of the agreement
Under the terms of the agreement, bet365 will go live with a selection of Playtech’s content portfolio, including games such as White King, Great Blue, and Frankie Dettori’s Magic Seven. It follows on from Playtech gaining the necessary regulatory approval to operate in New Jersey last month. Playtech has since outlined plans to partner with more New Jersey focused operator operators in the coming months and has also begun the licensing process for other US regions.
The market entry by Playtech
Although this is the first entry of Playtech on the U.S. gambling market, the company vowed to sign with more partners in New Jersey in the months to come. Looking back in June, Playtech received approval from the New Jersey Division of Gaming Enforcement (NJDGE) to launch casino products with bet365. The launch was facilitated with the help of a transactional waiver, which allowed Playtech content to be launched by bet365. Back in June, Playtech CEO, Mor Weizer deemed the regulator’s approval as a “major milestone” and said that the U.S. market is a strategic location for the company. The New Jersey gaming market has seen rapid growth with quite a few new entries in the past months. Back in May, the giant Scientific Games (SG) teamed up with ReelPlay to enter the Garden State’s gaming market.
Words from the COO
Shimon Akad, Playtech chief operating officer stated, “This is a significant moment for Playtech and our development in the US. Launching Playtech’s software in the US is a landmark, and we are very pleased to be taking this step with one of our most trusted partners in bet365. “With more titles and content launching in the coming weeks and months, there are exciting times ahead. This launch also serves as a prime example of our commitment to partnering with leading operators to bring leading software services and great content to new and growing markets.”
This is a major milestone for Playtech. Playtech is ecstatic to have met the stringent regulatory requirements of the DGE. Playtech CEO, Mor Weizer, commented: “This is a major milestone for Playtech. We are delighted to have met the stringent regulatory requirements of the DGE and to be launching in New Jersey with our long-standing strategic partner bet365. “The US is a highly strategic market for Playtech and we see significant demand for the full breadth of our product offering. “We are initially launching our online casino product in New Jersey and over time will increase our products on offer to include Sports, platform, and Live Casino and we will continue to expand into further states as they regulate. This is the first step for Playtech in the US and we are very excited about the long-term opportunity.”
bet365 starting to ramp up US ambitions?
For bet365, the launch reflects its growing investment in New Jersey and online casinos. A Bet365 spokesperson, said: “We’re excited to partner with Playtech to expand our content offering to the US market. Given the range and calibre of Playtech’s content, being first to market it is a real differentiator for our platform. We look forward to developing upon our already solid partnership as we continue to grow our casino offering.” Globally, the bet365 approach to a casino is more about cross-selling sports bettors than acquiring directly into casinos. And that looks to be the case in New Jersey too, with bet365 kicking off a sportsbook marketing campaign last week. Online Poker Report understands the brand now accounts for the majority of betting revenues on the Hard Rock license and was growing even before the marketing campaign kicked in.
Other interests for Playtech in the US market
Inevitably Playtech’s current interest in the US results from the opportunities in sports betting. However, online poker is part of the Playtech ONE product suite and can easily be deployed in US states such as Pennsylvania where regulations allow. Playtech’s sports betting product is operated by its subsidiary Playtech BGT Sports (PBS). PBS is active worldwide and significantly is now a major player in the Mexican market through its use by regulated market leader Caliente.
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