Software provider Playtech has broken into the global lottery landscape in a major way by partnering with US gaming services provider Scientific Games. The move opened for Playtech opportunities to secure government contracts, and provided support for its videobet machines business.
With the agreement, Playtech is able to offer its online gaming services and align them with the expansion plans of state lottery operators.
The future of state lottery is moving towards the Internet, with online poker, bingo and casino at the forefront. Government is progressively legislating to make this happen, as it sees the Internet as a way to survive in the gambling market.
Scientific Games is a global leader in the lottery system industry. Its client portfolio includes UK’s Camelot, the Chinese Government, and the states in South America, the Far East and Asia.
The value proposition of Scientific Games for Playtech is its relationship with 31 US states, which the software provider sees as its ticket to a return to the playing field where it was evicted from in 2006, when the Bush administration outlawed online gambling.
According to Playtech chief executive Mor Weizer, “This secured our position in the US and provides a great opportunity if and when the US market is regulated.”
The deal with also involves Playtech supplying video betting terminals to service Scientific Games’ contracts. As a direct consequence, 13,500 Videobet fixed-odds betting terminals by Playtech will soon be seen across betting shops in the UK.
The move also gave Playtech shares a boost in the stock market, with prices rising to 515p, or 18 percent from its previous prices—the highest since August 2008. Its market capitalization is not pegged at £1.2bn ($2bn), almost breaching its record-high of £1.3bn valuation in May 2008.
According to Collins Stewart analyst Paul Leyland, the agreement landed Playtech a seat at the negotiating table for state lottery deals—a crucial market that is not easy to penetrate. The partnership deal comes at the wake of a contract that Playtech entered into with William Hill in October 2008 for the development of its online presence.
Software provider Playtech has broken into the global lottery landscape in a major way by partnering with US gaming services provider Scientific Games. The move opened for Playtech opportunities to secure government contracts, and provided support for its videobet machines business.
With the agreement, Playtech is able to offer its online gaming services and align them with the expansion plans of state lottery operators.
The future of state lottery is moving towards the Internet, with online poker, bingo and casino at the forefront. Government is progressively legislating to make this happen, at it sees the Internet as a way to survive in the gambling market.
Scientific Games is a global leader in the lottery system industry. Its client portfolio includes UK’s Camelot, the Chinese Government, and the states in South America, the Far East and Asia.
The value proposition of Scientific Games for Playtech is its relationship with 31 US states, which the software provider sees as its ticket to a return to the playing field where it was evicted from in 2006, when the Bush administration outlawed online gambling.
According to Playtech chief executive Mor Weizer, “This secured our position in the US and provides a great opportunity if and when the US market is regulated.”
The deal with also involves Playtech supplying video betting terminals to service Scientific Games’ contracts. As a direct consequence, 13,500 Videobet fixed-odds betting terminals by Playtech will soon be seen across betting shops in the UK.
The move also gave Playtech shares a boost in the stock market, with prices rising to 515p, or 18 percent from its previous prices—the highest since August 2008. Its market capitalization is not pegged at £1.2bn ($2bn), almost breaching its record-high of £1.3bn valuation in May 2008.
According to Collins Stewart analyst Paul Leyland, the agreement landed Playtech a seat at the negotiating table for state lottery deals—a crucial market that is not easy to penetrate. The partnership deal comes at the wake of a contract that Playtech entered into with William Hill in October 2008 for the development of its online presence.
With the agreement, Playtech is able to offer its online gaming services and align them with the expansion plans of state lottery operators.
The future of state lottery is moving towards the Internet, with online poker, bingo and casino at the forefront. Government is progressively legislating to make this happen, as it sees the Internet as a way to survive in the gambling market.
Scientific Games is a global leader in the lottery system industry. Its client portfolio includes UK’s Camelot, the Chinese Government, and the states in South America, the Far East and Asia.
The value proposition of Scientific Games for Playtech is its relationship with 31 US states, which the software provider sees as its ticket to a return to the playing field where it was evicted from in 2006, when the Bush administration outlawed online gambling.
According to Playtech chief executive Mor Weizer, “This secured our position in the US and provides a great opportunity if and when the US market is regulated.”
The deal with also involves Playtech supplying video betting terminals to service Scientific Games’ contracts. As a direct consequence, 13,500 Videobet fixed-odds betting terminals by Playtech will soon be seen across betting shops in the UK.
The move also gave Playtech shares a boost in the stock market, with prices rising to 515p, or 18 percent from its previous prices—the highest since August 2008. Its market capitalization is not pegged at £1.2bn ($2bn), almost breaching its record-high of £1.3bn valuation in May 2008.
According to Collins Stewart analyst Paul Leyland, the agreement landed Playtech a seat at the negotiating table for state lottery deals—a crucial market that is not easy to penetrate. The partnership deal comes at the wake of a contract that Playtech entered into with William Hill in October 2008 for the development of its online presence.
Software provider Playtech has broken into the global lottery landscape in a major way by partnering with US gaming services provider Scientific Games. The move opened for Playtech opportunities to secure government contracts, and provided support for its videobet machines business.
With the agreement, Playtech is able to offer its online gaming services and align them with the expansion plans of state lottery operators.
The future of state lottery is moving towards the Internet, with online poker, bingo and casino at the forefront. Government is progressively legislating to make this happen, at it sees the Internet as a way to survive in the gambling market.
Scientific Games is a global leader in the lottery system industry. Its client portfolio includes UK’s Camelot, the Chinese Government, and the states in South America, the Far East and Asia.
The value proposition of Scientific Games for Playtech is its relationship with 31 US states, which the software provider sees as its ticket to a return to the playing field where it was evicted from in 2006, when the Bush administration outlawed online gambling.
According to Playtech chief executive Mor Weizer, “This secured our position in the US and provides a great opportunity if and when the US market is regulated.”
The deal with also involves Playtech supplying video betting terminals to service Scientific Games’ contracts. As a direct consequence, 13,500 Videobet fixed-odds betting terminals by Playtech will soon be seen across betting shops in the UK.
The move also gave Playtech shares a boost in the stock market, with prices rising to 515p, or 18 percent from its previous prices—the highest since August 2008. Its market capitalization is not pegged at £1.2bn ($2bn), almost breaching its record-high of £1.3bn valuation in May 2008.
According to Collins Stewart analyst Paul Leyland, the agreement landed Playtech a seat at the negotiating table for state lottery deals—a crucial market that is not easy to penetrate. The partnership deal comes at the wake of a contract that Playtech entered into with William Hill in October 2008 for the development of its online presence.