Playtech: Selling Out Casual Games 2023
Casino developer Playtech wants to realign itself in the future. As part of this realignment, the group now announced a sale of parts of its portfolio. Specifically, this involves the casual gaming studios or subsidiaries of Playtech, FTXGames and Playmee Studios. These were acquired by Tilting Point. Playtech, meanwhile, plans to focus less on the mostly free casual games and more on sports betting. For this purpose, a whole range of new products was already presented at the ICE 2020 in London.
Less Casual, More Sports Betting
Prominent gambling developer Playtech is aiming for a new course.
The Isle of Man-based company announced that it intends to focus more on the development of sports betting software in the future.
As one of the first official acts, the two subsidiaries FTX Games and Plamee Studios will therefore be sold.
A buyer has also already been found.
As the companies announced, the studios will pass into the hands of Tilting Point.
And not only that.
According to the agreement, the group may also take over Playtech's key employees.
It is not known how much Tilting Point paid for the takeover.
The sale of Plamee Studios marks the end of a roughly six-year success story for Paytech with this subsidiary.
In 2014, the offer was launched or brought to life by the acquisition of Yoyo Games.
At the time, Playtech paid around $20 million for Yoyo Games.
Today's acquisition by Tilting Point is likely to have fetched many times that price.
Only a short time later, Playtech struck again and acquired Funtactix, which later became FTX Games.
The company has launched numerous well-known games within the last few years.
Among them are “Power Rangers” or “Mission: Impossible”.
Playtech Wants to Become Even Stronger in Sports Betting
The highlight of Playtech's “new” portfolio will be the product “Quantum”.
This was presented to the public for the first time in London and, according to Playtech, serves to provide sports betting providers with completely new options for their customers.
Specifically, this is the result of the merger of Playtech BGT Sports with several betting services and betting shops.
According to Playtech, this will enable operators to seamlessly integrate all sports betting solutions.
It would allow partners to track and manage all betting activity across the network.
It would also allow companies to customize their services and portfolios to suit players.
According to Playtech, this is the world's first “omni-channel betting platform.”
For the companies, however, “Quantum” should not only provide an upswing in the area of product diversity.
According to Playtech, the administrative effort would also be significantly reduced.
The companies could thus save costs, offer their customers more attractive odds, or generate higher revenues.
The company estimates that up to ten percent more revenue could be possible in the digital area.
In the stationary area, Playtech even expects revenue growth of up to 25 percent.
This is Playtech
Playtech is one of the market leaders in the digital gaming and financial trading industry.
The company was founded back in 1999 and has its home on the Isle of Man.
In the meantime, however, the group, which is listed on the London Stock Exchange, is active in numerous countries around the world.
Playtech holds 140 licenses in 20 jurisdictions, and also employs more than 5,000 people in 17 countries.
In the sports betting sector, the developer turns over around one billion pounds every month, and the casino sector also provides reliable revenues.