Playtech Enters U.S Internet Gambling Market
The top internet gaming software providers are trying to get their share of the massive American market should internet gambling be legalized again in the United States of America. And Playtech is one of them.
We received numerous reports this week that Playtech is currently locked in discussion with various prospective partners in the U.S, no names were mentioned as yet. Should internet gambling be legalized again Playtech will be in a prime position to fully exploit this market.
The first joint venture is between Playtech and Scientific Gaming. The moment the announcement became public the share price of Scientific Games fell by 10%. Mor Weizer, ceo of Playtech said that the formal joint venture structure had its limitations and accounting problems that currently prohibits maximum utilization. The revised structure enables both parties to fully exploit key opportunities outside the initial arrangement. Playtech will license its internet gaming software under the new terms of the agreement to Scientific Games on a mutually non-exclusive basis for use by certain categories of Scientific Games’ current and potential customers. These include USA casinos and lotteries worldwide. SciPlay is to become a wholly owned subsidiary of Scientific Games.
Jersey, one of the Channel Islands is currently busy licensing a regulatory framework for internet gambling. In 2010 Playtech was approached by the Jersey authorities and convinced the internet casino software provider that its licensing regime meets its stringent criteria. Presently Playtech has existing licensees with operations in the Channel Islands , as a result it applied for an internet gambling license from the Jersey Gambling Commission. Alan Maclean Jersey Economic Development Minister said that this license application from a global player like Playtech is a feather in the cap for Jersey’s new internet gaming industry.
CEO of Playtech Mor Weizer confirmed that Playtech approached a number of U.S-based companies. He also said: “There is a lot of work being done behind the scenes in various states by various local authorities. We have people on the ground now in the U.S. working with us in order to monitor all these processes.”
The question is not “if” but when gambling online is going to be fully legalized in the U.S. Experts believe maybe mid 2012 will see the U.S government legalize it that said no one knows for certain, and only time will tell.[addtoany]
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