Two of the online gambling industry’s largest groups, Ladbrokes and Playtech, have signed an iconic five year deal that will assist Ladbrokes make progress with its digital platform. The deal will see Playtech assist Ladbrokes set up a separate digital market team, to be based in Israel, as well as the addition of 200 of Playtech’s top casino games on the Ladbrokes website under a new ‘Vegas’ tab.
Playtech will see remuneration based on Ladbrokes’ success over the next few years, and will receive 27.5% of increases to the group’s digital earnings. It will also pocket royalty fees from the new marketing agreement.
Playtech, which was founded in 1999 and employs more than 2,500 staff from around the world, was instrumental in launching William Hill Online, and saw its 29% stake in this joint venture, started five years ago, end this month when William Hill bought out Playtech’s share of the business for £424 million.
Mor Weizer, the Chief Executive Officer of Playtech said about the new Ladbrokes deal: “Ladbrokes is one of the largest and most respected brands in the betting and gaming industry, and we are delighted to have secured the opportunity to play an important role in accelerating the growth of its digital business.”
Playtech and Ladbrokes are already partnered through a deal which sees Playtech provide Ladbrokes with bingo and videobet technology for its betting shops machines.
