Israeli gambling software developer Playtech plc announced today that it has signed a five-year contract with British publisher News UK to run the latter’s Sun Bingo and Fabulous Bingo sites and the related mobile operations. The newspaper business was formerly supplied by gambling technology company Gamesys.
Under the terms of the deal, Playtech’s subsidiary Virtue Fusion would operate the two websites as well as their mobile variants. The two online bingo brands are expected to be launched in August 2016, as existing players will first need to be migrated to Playtech’s bingo platform from the Gamesys one.
The two bingo sites, and Sun Bingo in particular, are among the largest and most popular ones in the United Kingdom. Originally, they were operated by gambling company tombola. In 2008, Gamesys signed an agreement to run the two sites and has been doing so since then.
Earlier in 2015, Gamesys’ B2C brands were purchased by Intertain Group. Without those, the company practically turned into a B2B business. The News UK contract loss marks the first major one since Gamesys disposed of its B2C operations.
Commenting on the latest announcement, Mor Weizer, Chief Executive Officer of Playtech, said that his company will use “cutting edge-technology” to power the Sun Bingo and Fabulous Bingo sites, in order to provide customers with best-performing and innovative bingo games and other gaming content. All those are to feature exciting prizes and promotions as well as large jackpots, Mr. Weizer promised.
The executive further noted that Playtech’s newest partnership is completely in line with the company’s strategy to connect with the best operators and other related brands in the regulated markets. He also said that they are looking forward to their collaboration with News UK in order to provide customers with what would most definitely be a “first-class product.”
The announcement about Playtech partnering with the newspaper publisher comes days after the gambling technology supplier revealed that it had terminated the deal for the purchase of contract-for-difference broker Plus500 for £460 million. After it had reviewed the proposed takeover plan, the Financial Conduct Authority said that there are certain requirements that Playtech needed to meet before the end of the year.
The Israeli company stated that it would not be able to fulfill the said demands and decided that it would withdraw its proposal for buying the online trading services provider. Following the termination of the Plus500 deal, shareholders of contract-for-difference broker AvaTrade exercised their right to exit the proposed acquisition of the company by Playtech.
The Israeli technology developer proposed to buy AvaTrade for the amount of £69 million. The takeover was subject to regulatory approval from the Central Bank of Ireland. After the bank openly opposed the deal, shareholders decided to back out of it.
