March 30, 2009 (CAP Newswire) — Software developer Playtech has been riding high recently, with a variety of high-profile announcements that have kept the ten-year-old online and mobile software developer in the iGaming headlines. These announcements have ranged from a lucrative licensing agreement with Marvel Entertainment to a new website redesign, plus very strong financial results released last week, which described a huge profit increase.
But the latest and perhaps most exciting piece of news is the report that Playtech has purchased Cyprus-based sportsbetting software provider Player2Player (for an undisclosed sum of money). This will enable the Isle of Man-based Playtech to enter the sportsbetting market.
“The addition of sportsbetting brings important growth opportunities for the company in regulated jurisdictions, creating new cross-selling opportunities, enabling licensees to diversify their businesses and helping the company to attract new customers,” Mor Weizer, Chief Executive Officer for Playtech, told iGaming Business Magazine.
Also according to iGaming Business Magazine, Playtech will integrate Player2Player’s technology into its existing gaming platforms and make it available “soon”. Combined with Playtech’s existing software capabilities in the casino, bingo, and poker markets, the addition of sports betting means that the company will now offer all major forms of online gambling.
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