Playtech enters regulated Spanish market with Casino Grand Madrid agreement
Playtech (AIM: PTEC), the international designer, developer and licensor of software to the online gaming industry, today announces that it has signed a new licensing agreement to supply its market leading online casino and poker products to Casino Gran Madrid ("CGM"), one of the largest and most prestigious land based gaming operators in Europe.
Under the terms of the license agreement, Playtech will provide CGM with its casino platform and poker product, through the iPoker network, as the operator launches its online operations.
Commenting on the agreement Mor Weizer, Chief Executive Officer of Playtech, said:
"We are delighted to have secured this agreement with one of Europe's largest and most respected land based operators. We expect this to be a significantly value accretive relationship, exemplifying our strategy to increase the number of regulated markets in which we operate."
Both parties are committed to meeting all the Spanish regulatory requirements. CGM has also been working closely with Playtech's development and customer support teams to devise a suite of products tailored to meet the unique demands of CGM's players, offering a huge variety of games specifically designed to appeal to the gaming patterns of CGM's customer base.
Mr Weizer continued:
"As a leading industry player we are pleased to add further regulated markets to our sphere of operations. Playtech's gaming platform is supported by a transparent and efficient management system which an increasing number of customers view as integral to their future business plans."
Jorge Casanova, Director of Information Systems of Casino Gran Madrid concluded:
"Our agreement with Playtech strengthens CGM's leading position in the Spanish casino market. With our casino brand and games available online we are delighted to be leading gaming development in Spain through Playtech's innovative, secure and transparent system."
