There’s been loads of big news coming from online bingo software provider Playtech in the last couple of weeks. They have recently signed not one but two new agreements to provide software to different groups across the globe – one in North America and one in Europe.
Their first software licensing deal was signed with Caliente, a major Mexican gaming group back in March 2012, to launch online casino games in Mexico whilst branching out to other Latin American countries. They’ve now recently signed a new agreement branching into retail sports betting software. This will see Playtech provide the software for them to operate sports book sites in 140 locations in Mexico and another 50 locations across 11 South American countries for a minimum duration of 10 years.
The decade long agreement covers software provision in a full suite of both online and mobile products, ensuring Caliente’s software is up to date, innovative and competitive enough to grow throughout the arrangement period.
The arrangement sees Playtech paid not only in software royalties, but also on a performance based system for their service provision.
The second deal sees Playtech’s software head to Europe, with an unnamed Italian media brand inking a deal for a minimum of 5 years. This agreement is an exclusive commercial partnership which again sees Playtech provide software and technology for a sports betting and gaming website in the Italian market. In addition to software, this arrangement sees Playtech provide necessary marketing assets including social media, exclusive mobile apps and sponsorship.
And whilst positive interest in America and Europe is great news which is sure to generate interest and revenue in Playtech, there has also been interesting news closer to home which proves positive for bingo fans too.
It was recently announced that Playtech is set to not only provide its software but also invest a gigantic £10 million in UK gaming and bingo operator BGO.
The deal will see the software giant supplying its full software product range to the bingo operator, as well as invest a huge sum of cash which will see Playtech own a 33.33% equity stake in BGO on customary terms. BGO intends the new funds to be used primarily on the company’s innovative marketing strategy, which currently sees Hollywood mini-star Verne Troyer as the face of the brand.
BGO – pronounced be-go – is an Alderney licensed operator which only launched in 2012, replacing the operator’s former site, Xbingo. The site itself claims to have started with their own software, purpose-built by the company. This will now change hugely as Playtech takes over that department.
A recent statement from Playtech announced the company’s delight over the trio of recent deals:
“These contracts do more than provide a financial upside; they give greater control over our future, ensure we have the best commercial arrangements in all key regulated markets and create greater liquidity for the entire Playtech ecosystem.”
Whilst this deal is great news for the Isle of Man based gaming software giant, it remains to be seen the effects it will have on UK bingo players. BGO already has a huge library of games, and is fully mobile compatible, so it’s unclear what changes, if any, Playtech will make in terms of this. Their huge investment in the bingo operator does however ensure that BGO looks set to remain a strong bingo brand we can depend on in the long run.
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