Playtech, a leading provider of iGaming software, has announced an extension of its exclusive partnership with Paddy Power, one of the industry’s key players. The agreement solidifies Playtech’s position as the sole provider of Self Betting Terminals for Paddy Power’s machines in Ireland and the UK. The companies express their commitment to a customer-centric approach and the development of new technologies to digitize the retail space. Additionally, Paddy Power has signed a long-term deal with Inspired, and Playtech has reported strong EBITDA growth, adjusting its outlook for 2022.
Continued Collaboration with Paddy Power:
Shimon Akad, Chief Operating Officer at Playtech, expresses enthusiasm for the ongoing collaboration with Paddy Power, highlighting the company’s growth over its 30-year history. Playtech’s software performance has been instrumental in enabling this partnership, and the company aims to further enhance their collaboration by providing a customer-centric roadmap and developing innovative technologies to transform the retail space.
Strategic Partnership:
David Newton, Chief Commercial Officer at Paddy Power, emphasizes the strategic importance of their relationship with Playtech. The Playtech terminals play a crucial role in Paddy Power’s retail offering and are integral to the company’s future strategy. Paddy Power looks forward to expanding this partnership in the coming years, capitalizing on the expertise of Playtech as an industry leader.
Expansion with Inspired:
Paddy Power has also signed a long-term agreement with Inspired, another prominent provider of gaming solutions. Under this partnership, Inspired will offer fully integrated managed services for Paddy Power’s UK estate, comprising 1,400 terminals. The services will include installation, remote and field technology support, as well as content and platform deployment. This collaboration further strengthens Paddy Power’s position in the UK market.
Positive EBITDA Growth:
Playtech’s strong performance has led to an adjustment in its EBITDA outlook for 2022. Following the company’s interim results for H1 2022, Playtech expects its unaudited adjusted EBITDA for the full year 2022 to reach at least €400 million ($435.5 million). If achieved, this would represent a substantial 26% increase compared to the previous year. Playtech’s robust financial performance demonstrates its resilience and ability to thrive in a competitive industry.
The extension of the exclusive partnership between Playtech and Paddy Power reaffirms their commitment to collaboration and innovation in the iGaming industry. Playtech’s position as the sole provider of Self Betting Terminals for Paddy Power’s machines in Ireland and the UK ensures a seamless and high-quality gambling experience for Paddy Power customers. Furthermore, Paddy Power’s strategic partnership with Inspired and Playtech’s strong EBITDA growth further solidify their positions as key players in the market. With a customer-centric approach and a focus on developing new technologies, Playtech and its partners are poised for continued success in the evolving landscape of iGaming.