Ladbrokes New Playtech Deal
The digital operations of Ladbrokes, the UK online and land based gambling operator have been suffering. This is why the operator decided to boast its digital operations by entering a new software and service deal.
Ladbrokes have entered this new services and software agreement with one of the biggest names in the software industry, Playtech. This new deal was announced on Monday. The two companies are already engaged in several agreements together and this deal is going to expand the agreements between them. This deal is really between PTTS, Playtech’s subsidiary and Ladbrokes. PTTS is going to provide Ladbrokes with any needed advisory services in order to help it in growing and developing its digital section of the business.
This new agreement will also enable Ladbrokes to fully access the product and technology suite of Playtech, which will definitely help Ladbrokes elevate its digital business. The deal also states that for an initial period of more than 5 years, Playtech will launch a Vegas tab on the digital platforms of Ladbrokes. This Vegas tab would provide the players with numerous online gaming products across tablet and mobile, with more games being added on a regular basis.
Over the medium term, the IMS of Playtech will be the foundation of the digital back-end of Ladbrokes. This would enable Ladbrokes and the customers to enjoy the wonderful benefits of an integrated experience that includes all channels and products. PTTS will work on ensuring the smooth integration of the marketing team in Ladbrokes.
Ladbrokes is also going to introduce brand new business intelligence and methodologies systems that are developed by PTTS within its Bulgarian & Philippines operations. This introduction aims to maximize the lifetime values of its customers as well as to accelerate the digital business of the company.
Besides the royalties that will be generated according to the terms of the agreement, Playtech will also be entitled to a fee for the advisory services that are provided by its subsidiary, PTTS. The success fee depends on the results that will be achieved in FY2017.
The chief executive of Playtech, Mor Weizer has stated that he considers this agreement as a landmark transaction that shows the value of the company’s subsidiary, PTTS and shows the diversity of services that Playtech can offer to the business.