New Jersey Gambling License Renewal Deadline Approaching [...]
Playtech Eyes US Expansion With NJ License
- August 27, 2018 By Oliver Young -
After releasing its H1 results for 2018 last Friday, global supplier of casino and sportsbetting technology Playtech stole everyone’s attention by revealing the company’s interest in expanding to the US. Following the presentation of Playtech’s financial performance for the first quarter of the year, Mor Weizer, the company’s CEO held a press conference and investor presentation where he revealed that Playtech is planning a new expansion to the west with the help of its future New Jersey License.
Playtech’s Sportsbook Targets US Market
Speaking at the press conference, Weizer said that the emerging sportsbetting market is an interest for the company, specifically its BGT Sports (PBS) subsidiary. PBS is the company that operates Playtech’s online and land-based betting services which recently established a strong footing in the US sports market with its expansion in Mexico.
Through Mexican betting operator Caliente, Playtech’s PBS entered the local betting market in Mexico and became one of the biggest traders of US sports which are the most popular markets in the country. And now, according to Weizer, Playtech is looking to expand its dominance in the region even further.
As told by the company’s head, Playtech is currently in the process of obtaining a license for sportsbetting in New Jersey and that’s only the beginning. Talking to attendees, Weizer hinted at ambitions that spread beyond New Jersey which are reportedly to be realized with the help of the PBS sports betting solution. According to him, PBS is well suited for the US market where operators would have to establish themselves state by state. Playtech’s solution reportedly offers easy integration which would allow operators to set up a full set of services from the grounds up very quickly and efficiently.
Poker and Casino on the Horizon?
Friday’s press conference didn’t only grab the attention of sportsbetting enthusiasts in the US but also online casino players and Poker fans. Playtech operates one of the top global poker networks online, iPoker, which is currently being used by a number of leading European casino brands. The iPoker network was expected to arrive in the US for quite some time, but no official partnerships have been announced thus far.
Attempts have been made for Playtech to enter the regulated gambling market in the US since 2013. In June last year, the company signed a deal with Caesars Entertainment EMEA to provide products for eight Caesars properties in the UK. It is this deal that lead industry experts to suggest that Playtech has an advantage to enter the US market through the Caesars brand.
Caesars’s sports betting products are already supplied by Scientific Games but that’s not to say that Playtech will be excluded from supplying casino and Poker products. Playtech also had a strong relationship with William Hill over the years, which could produce another opportunity for the brand to enter the local markets.
According to the latest financial results, Playtech’s online betting revenue saw a 27% growth year on year, while the online casino sector marked a decline of 25%. Poker revenue was up only by 2%, generating a total of €4.7 million in the period.
YOU MIGHT BE ALSO BE INTERESTED IN THESE:
Get Ready for Christmas With Santas Great Gifts by Pragmatic Play [...]
Explore a Fairy Forest in the Woodlanders Slot by Betsoft [...]