Playtech CEO: We are not too late for the US market
CEO Mor Weizer says firm will focus on pure B2B deals in New Jersey with white label deals off the table
Playtech has played down concerns about its late entry to the US market, with the firm still not having received a New Jersey license.
Speaking to EGR last week, Playtech CEO Mor Weizer said the New Jersey application had been filed in Q4 but had been slowed down slightly by the regulator asking for more information.
Weizer said everything was on track and claimed the provider was well set to make a splash in New Jersey.
“I don’t think we are too late,” CEO Mor Weizer told EGR. “In New Jersey the vast majority of operators are a partner of Playtech in some way, GVC, PokerStars, 888, Paddy Power Betfair.
“We will become an important partner to operators, providing them with software. Given the market is more advanced, we will be focused on software and the traditional B2B model rather than JVs and white labels.”
Weizer said the London-listed supplier would adopt a flexible approach to entering states that weren’t already live with sports betting and online gaming.
“The beauty about the Playtech model is we can be very flexible and use different business models in different states,” Weizer said. “No doubt we will provide our products on a pure B2B basis in several states and there is opportunity to find partners and do more than just software in newly regulated states, on a joint venture or white label basis.
“I would say we have a very different approach to others. Usually operators partner with one provider and try to cover most of the US. Our view is different because we believe each and every market will be different, and the regulatory environment will be different – like Europe – so we will remain very flexible and find the right partner in reach and every state.”
Playtech shares jumped 10% last week as the firm beat FY18 earnings forecasts.