Playtech appoints Brian Mattingley as Non-Executive Chairman

FDJ enters ‘exclusive negotiations’ to acquire ZEturf

September 21, 2022

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Online casinos are the virtual equivalents of land-based casinos and are growing fast in popularity. In online casinos punters play and wager on traditional casino games such as slot games, video slots, and live casino games through the internet using a computer or mobile phone. Normally the games that are offered in online casinos are rented or bought from game providers such as NetEnt, Yggdrasil Gaming, Play’n Go, Microgaming, and Playtech. It is common that United Kingdom online casinos offer slightly higher odds and payback percentages than land-based casinos.

But can this last?

The fact that 888 continues to rake in cash following the lifting of restrictions bodes well. For its part, management believes that trading over the remainder of 2021 will be in line with expectations.

Then again, nothing’s guaranteed. Aside from the (admittedly small) possibility that we’ll want to spend less time at our screens, one issue with any gambling-related stock is the potential for increased regulation. 888’s no stranger to this after the Dutch government’s recent decision to launch a licencing system for online betting in the country.

As a result, 888 removed itself from this market at the beginning of October. It now intends to apply for a licence “in the coming months” and be up and running by H2 next year. Even so, the company’s expecting a $10m hit to earnings. This may help explain why the share price is down today.

GAMING1’s Circus Cup sees Ronaldinho return to the field

September 21, 2022

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Claire Milne, Interim Chairman, said:

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Claire MilneSource: LinkedIn

In selecting the new Chair, we wanted to appoint an individual with significant online gambling experience and a track record of delivering high levels of corporate governance and stakeholder engagement in a highly regulated and fast-growing industry. We are delighted that someone of Brian’s calibre is joining the Board and look forward to benefiting from his experience to support our continued progress and growth.

Spanning 24 countries and employing 6,400 members of staff, Playtech provides business intelligence-driven gambling software, content, services and platform technology across a range of the gambling industry’s product verticals, including casino, live casino, virtual sports. Sports betting, poker and bingo. It was founded in 1999 and is premium listed on the London Stock Exchange’s Main Market.

Brian Mattingley, Chairman Designate, said:

Brian MattingleySource: LinkedIn

I’m very pleased to be joining Playtech, at such an exciting time in the Company’s development. Playtech is ideally placed to continue to build on its market leadership position and I look forward to working with everyone at Playtech to drive forward its strategy and capitalise on the opportunities ahead.

Playtech recently responded to rumors on the sale of its financial division Finalto, formerly known as Tradetech. The company confirmed that it is in “exclusive discussions” with a management consortium of Israeli companies for the sale of Finalto.

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