Playtech PLC Major structured agreement with Wplay (2941U)
22 November 2019 - 6:00PM
UK Regulatory
TIDMPTEC
RNS Number : 2941U
Playtech PLC
22 November 2019
Playtech plc
('Playtech' or the 'Company')
Playtech signs new major structured agreement with Wplay the
leading brand in Colombia
Playtech plc ("Playtech") today announces that it has signed a
long-term structured agreement with Aquila Global Group SAS
("Wplay"), the operator of Wplay, Colombia's leading gaming and
betting brand. Under the agreement Playtech will become Wplay's
strategic technology partner delivering its omni-channel products
together with operational and marketing services across the leading
brand's retail and online operations.
The partnership is another significant strategic step in
Playtech's growth in Latin America. Playtech has a track record of
developing newly regulated online markets in the region through the
successful structured agreement with Caliente in Mexico, which has
grown to become one of Playtech's largest licensees and the leading
operator in Mexico.
Wplay
Wplay, based in Medellin, was issued Colombia's first official
online gambling licence in June 2017 becoming the first licensed
operator in the market. The leading retail brand in Colombia, Wplay
operates more than 7,000 points of sale across its retail network.
In line with the regulatory framework in Colombia, Wplay offers
sports betting in its land-based channels, with the retail
eco-system offering affiliation to the growing online betting and
gaming market through registrations, deposits and withdrawals.
The agreement is a continuation of Playtech's strategy to invest
in the leading retail brands in newly regulated and fast-growing
markets. Wplay is the official partner to some of the most
high-profile sports organisations in Colombia, including leading
Primera A league football teams and the Colombian Olympic football
team, allowing the Wplay brand to resonate with more than 35
million sports fans across the country.
Structured agreement
The agreement will see Playtech migrate all Wplay's retail and
online activity to its award winning IMS player management platform
enabling Wplay to leverage its retail brand and footprint to drive
online growth. Playtech will exclusively power all software across
Wplay's regulated verticals including its Sports and Casino
offering with the addition of third-party games through Playtech's
open platform. There is an opportunity for further product
verticals to launch as regulation in the region develops. Alongside
the data driven marketing and safer gambling platform tools,
Playtech will also provide CRM and marketing expertise and
personnel.
The strategic partnership will see Playtech make structured
investments to deliver the platform technology, software and
marketing expertise required to deliver an industry leading
omni-channel offering. As a result, Playtech will receive a share
of profits in addition to revenue share as per its regular business
model.
Mor Weizer, Playtech, CEO, said: "I am delighted and excited to
announce this strategic partnership with Wplay. The strength and
quality of the Wplay brand combined with Playtech's 20 years of
technology leadership in the industry will see us drive the online
growth of the market in Colombia.
"As outlined at the interim results, our pipeline of new
licensees is strong across all segments of our core B2B offering.
This agreement demonstrates the execution of our strategy to
continue to deliver structured agreements with the leading brands
in the most attractive markets globally. Latin America remains a
key market for us and with this long-term partnership with Wplay we
have added another important strategic partner in the region".
Julio César Tamayo, President, Wplay, said: "In addition to
strengthening Wplay's leadership in Colombia this agreement will
deliver the technology and expertise required to take the market in
Colombia to the next level. Playtech has the track record and
necessary scale to deliver industry leading software, marketing and
responsible gambling tools to the number one brand in Colombia.
"We look to the future with great excitement and look forward to
a long and prosperous partnership with Playtech."
- Ends -
For further information please contact:
Playtech plc
Chris McGinnis, Director of Investor Relations
& Strategic Analysis
James Newman, Director of Corporate Affairs +44 (0) 16 2464 5954
Headland (PR adviser to Playtech)
Stephen Malthouse, Jack Gault +44 (0) 20 3805 4822
About Playtech
Founded in 1999 and premium listed on the Main Market of the
London Stock Exchange, Playtech is a technology leader in the
gambling and financial trading industries.
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 a leading sports betting and gaming brand in online and
retail in Italy, Snai.
Playtech's Financials Division, named TradeTech Group, is a
technology leader in the CFD and financial trading industry and
operates both on a B2C and B2B basis.
Playtech has in total c.5,900 employees across 18 countries and
is headquartered in the Isle of Man.
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END
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