GVC Holdings PLC (LON: GVC), the multinational sports-betting and gaming group, is pleased to announce that it has signed an agreement with Playtech covering a new long-term commercial relationship between the two groups.
Under the agreement, which will run until 2025, Playtech will become a key products and services supplier to all GVC brands in both existing and new markets significantly expanding its current relationship with the Group. Through a portfolio of globally and locally established brands, GVC has one of the largest online gaming businesses in the world. For the first time many of these brands will have access to proven content and services from one of the world’s leading suppliers. Playtech and GVC have also agreed to work together to integrate Playtech’s products and services onto the GVC platform in order that they can be made available to the MGM-GVC JV, ROAR Digital.
Under the terms of the agreement, GVC will have greater flexibility migrating Ladbrokes Coral to the Group’s in-house technology platform. Any acceleration of synergy phasing from previous guidance is primarily dependent on the timing of the migration of the Ladbrokes Coral technology platform, which will be determined in due course.
In addition, this partnership will see an extension of the agreement for Playtech BGT Sports to supply Ladbrokes Coral with the software for its suite of self-service betting terminals throughout Great Britain, the Republic of Ireland, and Belgium.
Kenneth Alexander (GVC, CEO) said: “We are delighted that GVC has been able to agree 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. At the same time the added flexibility around migration of technology platforms enables us to accelerate the integration of Ladbrokes Coral.”
Mor Weizer (Playtech, CEO) said: “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. This is testament to the strength of the Playtech proposition and we look forward to supporting GVC over the coming years.”
