Quick Facts
FONT-SIZE Plus   Neg
Share SHARE

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.

Register
To receive FREE breaking news email alerts for Playtech Ltd and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
The Swiss economy stalled in the second quarter as the improvement in household spending was insufficient to offset the weakness in exports and investment in construction. Gross domestic product remained flat from the first quarter, when it accelerated to 0.5 percent, the State Secretariat for Economic Affairs said Tuesday. Economists had expected GDP to rise 0.5 percent in the second quarter. Policymakers of Reserve Bank of Australia decided to maintain its record low interest rate once again as they continue to assess that the most prudent course is a period of stability in interest rates. The monetary policy board retained the cash rate at 2.50 percent. The rate has been at the current level since August 2013. A ban on athletes using stamina-boosting gases - xenon and argon - came into effect on Monday. The World Anti-Doping Agency (WADA) said Hypoxia-Inducible Factor (HIF) activators Xenon and Argon have been added to the 2014 List of Prohibited Substances and Methods List following the required three-month notice period and UNESCO's communication to all States Parties. A recommendation to revise the
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.