Playtech Announces New Software Licensing Agreement With PartyGaming Plc (‘PartyGaming’)
Tuesday January 2, 7:05 am ET
DOUGLAS, ISLE OF MAN, England, January 2 /PRNewswire-FirstCall/ — Further to the statement issued by PartyGaming on Friday 29 December 2006 on the acquisition of certain businesses and assets from both Empire Online Limited (‘EOL’) and Intercontinental Online Gaming Limited (‘Intercontinental’), Playtech (AIM: PTEC) is pleased to announce that the Company has entered into a new long term software licensing agreement with PartyGaming. This agreement is subject to the successful completion of the above stated acquisition that is currently seeking shareholder approval from EOL.
Under the terms of the four-year agreement, the online gaming websites currently operated by EOL and Intercontinental will remain exclusively on the Playtech platform. These websites will continue operating as usual and will also provide the added advantage of cross-selling opportunities to the current PartyGaming player database.
The online gaming websites operated by EOL and International that are being acquired by PartyGaming include NoblePoker.com, Clubdicecasino.com, EnterCasino.com, MissBingo.com, FairPoker.com and MagicBoxCasino.com. In addition to this, PartyGaming will have access to the full range of Playtech’s casino, poker and bingo products.
Avigur Zmora, Chief Executive Officer of Playtech, commented:
“This agreement with PartyGaming is a real endorsement from the leading online gaming company and we are delighted to have established this important relationship. The fact that PartyGaming has chosen to continue operating these sites on the Playtech platform is a clear indication of the market leading position that our software holds. We believe that Playtech’s software will compliment PartyGaming’s existing products whilst providing an additional route to further revenue enhancement. We look forward to a long and successful partnership with PartyGaming.”