Q&A: Playtech CEO on safer gambling, digital health and corporate social responsibility

As a supplier with operations in more than 21 worldwide jurisdictions, Playtech has to deal with a unique set of challenges when it comes to compliance. However, the London-listed firm has also made a point of pursuing a strong focus on responsible gambling, beginning with its acquisition of BetBuddy in 2017.

This week, the company announced a pledge of £5m over the next five years to address five key areas of RG-led development in partnership with several mental health and gambling-related harm charities.

Below, Playtech CEO Mor Weizer chats to EGR Compliance about the rationale behind the pledge.

EGR Compliance: Why has Playtech chosen to make this pledge?

Mor Weizer (MW): As technology leaders in our industry, we have a duty to use our expertise, experience and technology to help build a sustainable industry for the benefit of all stakeholders.

The impact of the digital world on mental health and its relationship with the gambling sector is currently not well understood. We will be contributing expertise, research and financial support in five areas to increase the understanding and promote digital resilience and safer gambling behaviours included as part of healthy online living.

This is an issue close to my heart. When I look at my own children and family and how their lives are so dramatically different to how my own was then obviously I better understand it, as they are facing new risks and experiencing new journeys in mental health shaped by the digital world.

As one example my wife is the deputy mayor in the city I live in, which is just outside of Tel Aviv. She’s in charge of education, and in the last couple of months she launched a country-first initiative around developing safer environments for young people in particular.

Within Playtech the foundation of our approach will be to explore how digital technology, data and analytics can make a positive difference at the intersection of gambling, online life and mental health.

As part of this Playtech is launching a big initiative across the gambling sector, but not limited to the gambling sector, with several key stakeholders including charity partners such as GamCare, YGAM and BetKnowMore.

Playtech CEO Mor Weizer

EGR Compliance: How did Playtech arrive at this strategy?

MW: I initiated the process in conjunction with the team, our compliance director and several other stakeholders within Playtech. We looked at a number of areas and I said I want to make a difference. I always say you have to start somewhere. Right?

This is not about the money. We may well invest more than £5m as we look to collaborate and bring in more partners as time goes on, not just charities but also academics and government institutions.

We start with five million over five years in five key areas with a number of stakeholders but we are definitely not restricting ourselves to investing just this amount.

EGR Compliance: In a negative media climate, how important are initiatives like this to show the industry is committed to making serious change?

MW: It has nothing to do with obtaining good PR for the business. It’s with one goal in mind and this is to highlight the importance of safer gambling as well as creating a safer digital environment for consumers.

This complements our existing investments in gambling-harm prevention solutions like the BetBuddy platform and our work with responsible gaming charities, organisations and institutions.

We do a lot around responsible game design, including our work with the UKGC just as one example, but we want to make a difference beyond our core offering. We do this by providing the technology and support for partnerships and initiatives that can help reduce gambling-related harm and promote healthy online behaviour. This is the ultimate goal, it’s not about the PR.

EGR Compliance: Where are the biggest challenges in improving understanding of at-risk gambling behaviour and how it links to mental health risks?

MW: Our main challenge is to get other operators within our sector to engage with us in addressing this issue. BetBuddy was a good example as it was the first acquisition that we ever made that was not directly aimed at improving our financial situation. It was a conscious decision to buy BetBuddy considering the importance of responsible gambling and the potential importance of the company in that sector.

We now have a list of projects that we would like to see happening in the next five years, but our challenge is to get other operators and software providers integrating with the projects, sharing information and doing things for the benefit of all customers within the sector.

EGR Compliance: How is Playtech working from a CSR perspective?

MW: Playtech is a large company and one of the leading companies within the gambling industry and given the financial resources of the business and the contribution we make to the economies we operate in; we have a duty to be responsible.

We have 6,000 employees operating in 21 jurisdictions and it is our role and indeed the role of any corporate entity operating to do so, not only for our employees but for the wider community to both contribute and play an active role. Our employees should be proud of us as an operator, and those outside the organisation should want to work for us because of this record.

I believe there is an equilibrium between the corporate entities in the communities they serve and the communities which give back to corporate entities through those they employ. CSR initiatives allow us to enhance and build on this relationship to the benefit of all.