Playtech and PartyGaming Sign Software Agreement
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 software 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."
| PartyGaming is the biggest online gambling operator in the world. After going public with an initial evaluation of over $8 billion dollars, the company has continued to be successful. PartyPoker, PartyCasino and now PartyBackgammon are all part of the PartyGaming portfolio. |
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| Playtech is one of the leading gambling software manufacturers in the online gambling world and is the software of choice for many well-known and popular online casinos. Founded in 1999, Playtech has over 250 personnel distributed globally, around eighty percent of whom are engaged in research and development of current and future gaming technologies. |