Following an internal upheaval that saw founder Teddy Sagi sell the last of his shares in the company, Playtech is now back on track, signing new partnerships with Fortuna Entertainment Group and IWG, and consolidating its market presence.
After the Storm, IWG and Fortuna Partnerships
Following a rather rocky few weeks, Playtech is back to business. The company’s founder, Teddy Sagi, sold off the remainder of his 4.8% share in the company, giving the developer a chance to restore its share value, or so some investors hope.
While it’s yet too early to tell what Mr. Sagi’s decision does for the company, Playtech has been busy signing land-mark deals with Fortuna Entertainment Group and IWG games.
As a result, Playtech will deliver its IMS player management platform across multiple Fortuna properties in several countries in Eastern and Central Europe, including the Czech Republic, Croatia, Poland, Romania, and Slovakia.
Having already worked with Fortuna, Playtech feels confident in expanding on the existing partnerships that date back to 2016 when the company provided Fortuna with omni-channel solutions for properties in the Czech Republic and Romania.
The “omni-channel” solution has been one of the defining experience of Playtech as a brand, allowing customers to switch devices and play uninterrupted across multiple platforms and make full good use of the so-called single-wallet solution.
The extension of the partnership has been well-met by Playtech, too, with Shimon Akad, the current CEO, welcoming the developments.
. The extension and expansion of our partnership highlights both the success we’ve had, and the further growth we see ahead.
Mr. Akad has not been modest insofar as the benefits for all parties go, highlighting how the Playtech’s ecosystem has been essential to stimulating growth for companies choosing to use it.
This is a perfect example of how Playtech technology leads the way when it comes to enabling operator growth across regulated markets, and a further reflection of our role as the infrastructure of the industry.
Online growth has been steadfast for Fortuna, too. Since it focused its activities on the online segment, the company has reported a staggering 93% year-on-year increase in the total stakes accepted, estimated at $2.3 billion in 2017.
According to Fortuna CEO Per Widerström, the partnership with Playtech was intended to boost the growth of the company and help it become the largest operator across Eastern Europe, a goal that has been largely accepted. Now that the goal has been met, Mr. Widerström is apparently prepared to help the company expand into new markets, bringing Playtech onboard to assist it.
Having achieved this ambition, we will continue looking to grow and build our offer further in new and existing regulated markets. – Widerström
And while Playtech has been helping others to achieve their growth targets, the company is now benefiting from integrating IWG’s Bingo gaming platform into its own Playtech Bingo Network. As a result, the Playtech portfolio will now feature games from IWG’s own list.
Kevin was raised on sports since a young teen and following a (fortunate) injury pursued new hobbies in table games such as Blackjack and Poker. Since 2009 Kevin has been writing for casino sites for various big names in the industry and CasinoSites.us is but one of his latest passion projects.