Playtech Signs With Spanish Casino
Online gambling is here to stay and land casinos have realized this. They are now entering the online gambling space. Recently the French land casino company Lucien Barriere launched its 3D online casino, Le Croupier.com, amid much fanfare. Now the Spanish land based casino, Casino Gran Madrid, has decided to do likewise.
Casino Gran Madrid has decided tie up with Playtech, one of the leading online gaming software providers. Playtech will offer the platforms for the casino and the poker operations, the latter through its popular iPoker network. This deal not only reflects Playtech’s growing clout in the European market but will raise Playtech’s standing further. As other land casinos decide to go online Playtech will be the front runner choice. Spain is one of the European countries that operate a regulated market for online gaming. Playtech and Casino Gran Madrid are confident of meeting all the regulatory requirements and have started working closely together. The two parties are also working to create a suite of games aimed at appealing to the land casino’s customer base.
The Chief Executive Officer of Playtech, Mor Weizer, expressed his pleasure at the signing of the deal. He said that Playtech would derive considerable value addition from this arrangement. Weizer pointed out that “Playtech’s gaming platform is supported by a transparent and efficient management system” and this offers a tremendous advantage in regulated markets. Therefore he foresees many more such deals in the coming times.
Jorge Casanova, Director of Information Systems of Casino Gran Madrid said that this agreement would strengthen the casinos standing in the overall gambling market in Spain. Players will be able to play their specific brand of games both on land and online. He also said that Casino Gran Madrid was leading the development of the online gaming sphere in Spain through this deal.
The deal with Casino Gran Madrid was the icing on the cake for Playtech this week. Playtech released its full year results for 2008, which show what a successful year Playtech has had. The total revenues have increased from €65.66 million in 2007 to €111.45 million in 2008 registering an increase of 70%. This increase has come from growth of its existing licensees as well as addition of new licensees. The online casino revenues have increased from €47.4 million in 2007 to €79.4 million in 2008, while online poker revenues have grown from €17.4 million in 2007 to €79.4 million in 2008.
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