Playtech signs new licensing deals as gambling software giant pursues US growth

Playtech has secured new licensing deals spanning four states as the gambling software giant pursues US expansion.

The FTSE 250 firm, founded by Israeli tech and property billionaire Teddy Sagi back in 1999, has signed strategic partnerships with companies owned by Greenwood Racing - a big US player behind casinos and racetracks including Pennsylvania’s Parx Casino.

The agreements will see licensing of Playtech products across Pennsylvania, Michigan, Indiana and New Jersey, starting with the launch of an online casino in Michigan on Playtech platforms.

A 2018 US Supreme Court ruling allowing states to decide on legalising sports bets has led to a boom in the sector.

The industry’s London-listed firms - including Playtech, Ladbrokes owner Entain and Flutter, the giant behind Paddy Power - are all focusing on US growth in regulated gaming markets.

Playtech already provides products to bet365 and Entain in New Jersey.

Chief executive Mor Weizer, said: “This is the next step for Playtech in the US and we are delighted to work with the Greenwood companies to capture this exciting long-term opportunity." 

The firm, which floated in 2006 and employs more than 6,000 people worldwide, saw shares up 1.7% in early trading.