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Major structured agreement with Wplay

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RNS Number : 2941U
Playtech PLC
22 November 2019
 

Playtech plc

('Playtech' or the 'Company')

Playtech signs new major structured agreement with Wplay the leading brand in Colombia

 

Playtech plc ("Playtech") today announces that it has signed a long-term structured agreement with Aquila Global Group SAS ("Wplay"), the operator of Wplay, Colombia's leading gaming and betting brand. Under the agreement Playtech will become Wplay's strategic technology partner delivering its omni-channel products together with operational and marketing services across the leading brand's retail and online operations.

The partnership is another significant strategic step in Playtech's growth in Latin America. Playtech has a track record of developing newly regulated online markets in the region through the successful structured agreement with Caliente in Mexico, which has grown to become one of Playtech's largest licensees and the leading operator in Mexico.

Wplay

Wplay, based in Medellin, was issued Colombia's first official online gambling licence in June 2017 becoming the first licensed operator in the market. The leading retail brand in Colombia, Wplay operates more than 7,000 points of sale across its retail network. In line with the regulatory framework in Colombia, Wplay offers sports betting in its land-based channels, with the retail eco-system offering affiliation to the growing online betting and gaming market through registrations, deposits and withdrawals.

The agreement is a continuation of Playtech's strategy to invest in the leading retail brands in newly regulated and fast-growing markets. Wplay is the official partner to some of the most high-profile sports organisations in Colombia, including leading Primera A league football teams and the Colombian Olympic football team, allowing the Wplay brand to resonate with more than 35 million sports fans across the country.

Structured agreement

The agreement will see Playtech migrate all Wplay's retail and online activity to its award winning IMS player management platform enabling Wplay to leverage its retail brand and footprint to drive online growth. Playtech will exclusively power all software across Wplay's regulated verticals including its Sports and Casino offering with the addition of third-party games through Playtech's open platform. There is an opportunity for further product verticals to launch as regulation in the region develops. Alongside the data driven marketing and safer gambling platform tools, Playtech will also provide CRM and marketing expertise and personnel.

The strategic partnership will see Playtech make structured investments to deliver the platform technology, software and marketing expertise required to deliver an industry leading omni-channel offering. As a result, Playtech will receive a share of profits in addition to revenue share as per its regular business model.

 

Mor Weizer, Playtech, CEO, said: "I am delighted and excited to announce this strategic partnership with Wplay. The strength and quality of the Wplay brand combined with Playtech's 20 years of technology leadership in the industry will see us drive the online growth of the market in Colombia.

 

"As outlined at the interim results, our pipeline of new licensees is strong across all segments of our core B2B offering. This agreement demonstrates the execution of our strategy to continue to deliver structured agreements with the leading brands in the most attractive markets globally. Latin America remains a key market for us and with this long-term partnership with Wplay we have added another important strategic partner in the region".

 

Julio César Tamayo, President, Wplay, said: "In addition to strengthening Wplay's leadership in Colombia this agreement will deliver the technology and expertise required to take the market in Colombia to the next level. Playtech has the track record and necessary scale to deliver industry leading software, marketing and responsible gambling tools to the number one brand in Colombia.

 

"We look to the future with great excitement and look forward to a long and prosperous partnership with Playtech."

 

- Ends -

 

For further information please contact:

 

Playtech plc

 

Chris McGinnis, Director of Investor Relations & Strategic Analysis

 

James Newman, Director of Corporate Affairs

 

+44 (0) 16 2464 5954


Headland (PR adviser to Playtech)

 

Stephen Malthouse, Jack Gault

+44 (0) 20 3805 4822


 

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 a leading sports betting and gaming brand in online and retail in Italy, Snai. 

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

Playtech has in total c.5,900 employees across 18 countries and is headquartered in the Isle of Man.

 


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
 
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