Gaming software group Playtech PLC (LON:PTEC) spun higher on Wednesday morning after it signed a new long-term deal with Ladbrokes and Coral owner GVC Holdings PLC (LON:GVC).
The tie-up will run until 2025 and will see Playtech supply Ladbrokes, Coral and all of GVC’s other online gaming brands with various products and services.
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FTSE 250-listed Playtech said the new deal is “significant extension” to the current arrangement, with many of GVC’s brands now having access to its suite of content and products for the first time.
The partnership will also see Playtech continue to supply Ladbrokes Coral with the software used in its self-service betting machines throughout the UK and Ireland.
“We are pleased to have reached a new agreement with GVC, which expands on the successful partnership we have established with Ladbrokes Coral over the last six years,” said Playtech chief executive Mor Weizer.
GVC boss Kenneth Alexander added: “We are delighted that we have been able to agree on a long-term relationship with Playtech. Even more of our customers will now be able to enjoy content from one of the world's leading suppliers of high-quality gaming product.”
Playtech shares rose 2.8% to 428.1p in early deals. GVC was unchanged at 670p.