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New Deal Helps Playtech

Playtech is an example to the online casinos companies that similarly were forced out of the U.S. internet gambling market with little notice. Several of the companies that previously serviced the U.S. are still floundering and struggling to find a market base in the European and Asian markets, but Playtech on the other hand is almost fully recovered and has established several prominent partnerships and licensing deals over the past year. These partnerships and revenue from acquired online casinos businesses contributed to the company’s strong 2007 year-end report.

Playtech restructured to accommodate the expanding European online casinos market and emerging Asian-Pacific gaming industry; and the renewed focus on these markets paid off in the long run. Playtech has partnered with the Asian-facing AsianLogic and has a development deal in place that secures the company a position on the ground-floor of the emerging Asian poker and online casinos gambling industry.

Beyond the deal with AsianLogic, the positive year-end revenues are thanks to the addition of 15 new Playtech licensees and the acquisition of the Tribeca poker gambling network. Acquiring new licensees is a main focus for the online casinos gambling group, and although 15 was certainly a high number of new licensees for 2007, the company is well on its way to surpassing that number in 2008.

Roger Withers, the non-executive chairman at Playtech noted, that "The Group continues to expand rapidly with increased product development in new geographical markets leading to a number of new significant revenue streams.” All in all, the company effectively expanded its brand and focused outwardly in regards to expanding the company’s global reach. And while that would not work effectively for all online gambling companies, the strategy contributed to more than $100 million in 2007 revenue.