Playtech Secures Social Game Assets

Playtech, one of the largest and most respected casino software providers, has completed a deal with Skywind Holdings Limited in which the company has secured potentially lucrative social gaming licensing rights. Social media and gambling companies are becoming increasingly intertwined as each tries to find success in the other’s sector. Social media outlets are predicted to become the newest revenues generator for the internet gambling industry.

In this deal Playtech agreed to pay a €6 million annual licensing fee plus 20% share of revenues generated through its software in social gaming environments. In return, Skywind Holdings Limits will grant Playtech the rights to its social gaming platform. Playtech is expected to make about €18 million during the 3 year term of the licensing deal. Playtech will now focus much of its efforts on releasing a Business to Business (B2B) social gaming model which will take full advantage of Skywind’s platform.

Playtech CEO Mor Weizer has said: “Social gaming offers exciting growth opportunities for real money gaming organizations to apply their technological and marketing expertise.” He also added that the company’s plan was to supply internet gaming operators access to social gaming while also offering social gaming companies products for real money gaming.

Within days of the deal announcement, Playtech announced it will move the company from being traded on the London Alternative Investment Market (AIM) to the London Stock Exchange. Playtech believes that the move will encourage more potential investors as well as facilitate the growth of the company.