The popular online casino software provider Playtech has raised many question marks last weekend following an unusual announcement it made to the London Stock Exchange, where it is listed. The online gambling turnkey provider informed investors that it has signed a "significant" Asian-facing licensee. However, the name of the mysterious company was not mentioned. Playtech is a publicly listed firm and therefore has to report all its business action. Whenever a new company signs with Playtech, it shows favorably on the company's ability to produce revenues and therefore causes it stock to go up. It's understood why the gambling developer wanted people to know that a new contract was signed, but it's unclear why the name of the signing company is kept hidden.
"This is a significant new business win for Playtech and comes after lengthy contract formalities with the licensee," said Playtech CEO Mor Weizer. "The additional tools and features that we have developed for this operator will further strengthen Playtech's market-leading position in the vast Asia-Pacific market. This licensee has deep-rooted experience and market reach and we foresee additional benefits for Playtech, particularly for our new Asia-facing games which we start rolling out over the next two quarters," Weizer added.
The company is hoping that this contract will start yielding profits during the second quarter of the upcoming year. Playtech is known for its strong gambling product and range of services and many of the biggest names in the industry is using its platform. Hopefully, the company will be able to disclose the name of the licensee and we will all learn more about the mysterious contract. Weizer also noted that the mysterious signer has a large client base which will become a meaningful addition to Playtech's add-value. All of these bits and pieces of information only make it more interesting to learn more.
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