Playtech

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Playtech plc
Type Public
Traded as LSEPTEC
Industry Software,
Founded 1999
Headquarters Douglas, Isle of Man
Key people Alan Jackson, (Chairman)
Mor Weizer, (CEO)
Products Online gaming and casinos software and associated services
Revenue 367.2 million (2013)[1]
Operating income 159.4 million (2013)[1]
Net income 488.8 million (2013)[1]
Employees circa 2,600 (June 2013)
Website www.playtech.com

Playtech plc is a gaming software development company founded in 1999. The company provides software for online casinos, online poker rooms, online bingo games, online sports betting, scratch games,[2] mobile gaming, live dealer games and fixed-odds arcade games online. It is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index.

History[edit]

Playtech was founded in 1999 by Teddy Sagi; it was floated early in 2006 on the London Stock Exchange at a price that valued the business at approximately £550 million.[3]

After the passage of the Unlawful Internet Gambling Enforcement Act of 2006, the company's stock suffered a one-day fall of over 40%.[4]

On 22 October 2008, Playtech announced that it would acquire private assets from Teddy Sagi in return for $250 million.[5] Then in March 2011, Playtech bought PT Turnkey Services from Teddy Sagi for £125m.[5]

In July 2012 Playtech moved its listing to the Main Market of the LSE from AIM. In the September rebalance, Playtech was included within the FTSE 250 Index.

On July 2013 Playtech acquired PokerStrategy.com, one of the largest poker communities in the world with almost 7 million members, from etruvian Holdings Ltd for $49.2 million.[6]

Operations[edit]

Playtech employs circa 3,500 people (August 2014) in twelve countries and territories: Isle of Man where the headquarters are located, United Kingdom, Israel, Bulgaria, Estonia, Ukraine, Philippines, Sweden, Germany, Gibraltar, Latvia and Cyprus.[7]

iPoker[edit]

iPoker is Playtech's poker platform. It was implemented in the UK by casino game designer Geoff Hall, inventor of Blackjack Switch and currently has more than 60 members of staff.[8]

The network works using a skin based system. This simply means that each site on the network has its own skin of the underlying poker interface; the lobby, table layout and design are all exactly the same. However, each site can apply its own colour scheme and branding. Most importantly in order to maintain the liquidity needed to operate a successful poker network, each of these skins shares the same player pool. As of April 2014 the network had 30 active skins.[9]

Notes[edit]

  1. ^ a b c Preliminary Results 2013
  2. ^ Euro Partners Adds Scratch Games to its Growing Range of Online Gaming Verticals Online Gambling News, 1 January 2010
  3. ^ Playtech plans to raise £175m in IPO FT.com, 17 February 2006
  4. ^ Playtech’s Power Play Poker Update, 18 August 2011
  5. ^ a b Playtech game plan questioned The Telegraph, 14 April 2011
  6. ^ PokerStrategy.com becomes a Playtech company PokerStrategy.com, 11 July 2013
  7. ^ Playtech, official site. Accessed 19-8-2014.
  8. ^ ThePOGG (27 November 2012). "ThePOGG Interviews – Geoff Hall – The creator of Blackjack Switch". 
  9. ^ "iPokerSkins - A full list of iPoker network skins". 

External links[edit]