logo
Plus   Neg
Share
Email

Playtech, Ladbrokes Extend Software And Technology Agreements - Quick Facts

Playtech Ltd. (PTEC.L), a provider of software platform for online, mobile and land-based games, Monday announced the expansion of its existing software and technology agreements with Ladbrokes plc (LAD.L). Playtech added that its PTTS has entered into a landmark agreement to provide Ladbrokes with advisory services to assist in the development and growth of its digital business. The extension is effective on May 1.

The companies said the new software agreement will provide Ladbrokes with access to Playtech's full technology and product suite.

The deal, for an initial period of more than five years, will commence with the launch of a new 'Vegas' tab on Ladbrokes' digital platforms, offering a suite of casino and games products across online, mobile and tablet, with the other products to follow in due course.

The companies expect that over the medium term, Playtech's IMS will become the foundation of Ladbrokes' digital back-end, enabling Ladbrokes and its customers to enjoy the benefits of a fully integrated experience across all products and channels.

The new software agreement builds upon Playtech's existing relationship with Ladbrokes, through which it provides bingo and Videobet products.

In addition to the royalties to be generated under the terms of the software agreement, Playtech will be entitled to a success fee for the advisory services provided by PTTS, based upon the improved performance of the Ladbrokes digital business.

Meanwhile, Ladbrokes said its Board is confident that these arrangements will deliver a significant acceleration in the growth of Digital revenues over the five years to 2017 and beyond.

by RTTNews Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
In the age of social media, it takes mere hours for a company to suffer the backlash of of allegations of racism. For some companies, these incidents have hurt their bottom line and sullied their reputations. For others, they were a blip caused by clumsy if not altogether coincidental missteps. In... BJ's Wholesale Club Holdings Inc., which is planning a return to the public market, has set terms for its planned initial public offering or IPO. In a filing with the U.S. Securities and Exchange Commission, the warehouse club operator said Monday that it plans to offer 37.5 million shares priced between $15 and $17 per share. At the top end of the range, the offering would raise $637.5 million. Shares of Valeant Pharmaceuticals International Inc. are falling more than 6 percent in Monday's trading following news that the U.S. Food and Drug Administration has failed to approve the Canada-based company's Duobrii lotion for the treatment of plaque psoriasis. Ortho Dermatologics, a division of Valeant Pharmaceuticals, said it has received a Complete Response Letter or CRL from the FDA.
Follow RTT