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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  Playtech    PTEC   IM00B7S9G985

PLAYTECH

(PTEC)
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Delayed Quote. Delayed London Stock Exchange - 10/21 11:35:01 am
358.8 GBX   -1.21%
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Playtech : launches Casino software with BetMGM in US

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09/24/2020 | 04:40am EDT

London, 24 September 2020 - Playtech, the World's leading gambling technology company, is pleased to announce the roll out of its casino software in New Jersey across BetMGM's gaming network for the first time. Under the agreement, Playtech will provide its industry leading casino software to BetMGM Casino, Borgata Online and PartyCasino NJ. BetMGM is the joint venture created by MGM Resorts International (NYSE: MGM) and GVC Holdings (LSE: GVC).

Shimon Akad, Playtech COO, said: 'We are delighted to launch with leading operator BetMGM in New Jersey. This is the exciting first step in our partnership which will see us launch in further states with BetMGM across its industry leading portfolio of brands as it expands on its US leadership. Starting in New Jersey, for the first time our award winning casino offering is now available across BetMGM, Borgata Online and PartyCasino NJ. This strategic deal demonstrates the strength of Playtech's US proposition and the appeal of our gaming offering in the region as we continue to launch our pipeline of new US licensees.'

Matthew Sunderland, BetMGM VP of Gaming, said, 'Our online casino customers in New Jersey will now be able to enjoy casino games from one of the World's leading suppliers of gambling software. This launch continues to build on our current leadership position in Gaming in New Jersey and we look forward to continue collaborating with Playtech as more states in the US legalize online casino gaming.'

The launch demonstrates another significant step in Playtech's growth in the US market and operational momentum will see the Company expand into more states in the near future.

About BetMGM

BetMGM LLC is a market leading sports betting and gaming platform and joint venture between MGM Resorts International (NYSE: MGM) and GVC Holdings Plc (LSE: GVC). Based in New Jersey, the company was established in July 2018 to create a world-class sports betting and online gaming platform in the United States, in order to take advantage of the new opportunities created by the U.S. Supreme Court's decision to overturn the U.S. federal Professional and Amateur Sports Protection Act (PASPA). Utilizing GVC's US-licensed, state-of-the-art proprietary technology platform, BetMGM offers sports betting and online gaming via market leading brands including BetMGM and partypoker. The company has exclusive access to MGM Resort's U.S. land-based and online sports betting, major tournament poker, and online gaming businesses. For more information visit www.roardigital.com.

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 the leading sports betting and gaming brand in online and retail in Italy, Snai. Snaitech operates a B2B2C model as a service provider, allowing franchisees to utilise the Playtech technology stack in the retail environment while operating the leading brand, Snai, directly online as a B2C business.

Playtech's Financials Division, named TradeTech Group, is a technology leader in the CFD and financial trading industry and operates both on a B2B and B2C basis.

Playtech has in total c.5,900 employees across 19 countries and is headquartered in the Isle of Man.

www.playtech.com

For further information please contact:

Playtech plc

James Newman, Director of Corporate affairs

Headland Consultancy

Tom James c/o Headland Consultancy

+44 (0)20 3805 4822

BetMGM

Elisa Richardson

press@betmgm.com

Disclaimer

Playtech plc published this content on 24 September 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 24 September 2020 08:39:01 UTC


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Financials
Sales 2020 1 279 M 1 517 M 1 517 M
Net income 2020 19,2 M 22,7 M 22,7 M
Net Debt 2020 710 M 842 M 842 M
P/E ratio 2020 64,4x
Yield 2020 -
Capitalization 1 130 M 1 356 M 1 340 M
EV / Sales 2020 1,44x
EV / Sales 2021 1,14x
Nbr of Employees 6 400
Free-Float 96,3%
Chart PLAYTECH
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Technical analysis trends PLAYTECH
Short TermMid-TermLong Term
TrendsNeutralBullishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 7
Average target price 4,02 €
Last Close Price 3,98 €
Spread / Highest target 23,4%
Spread / Average Target 1,02%
Spread / Lowest Target -18,9%
EPS Revisions
Managers
NameTitle
Moran Weizer Chief Executive Officer & Executive Director
Shimon Akad Chief Operating Officer
Andrew James Smith Chief Financial Officer & Executive Director
John E. Jackson Senior Independent Non-Executive Director
Claire Milne Independent Non-Executive Director
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