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Mansion Launches Casinos In Ontario With Playtech Platform

Posted on November 14, 2022 | 6:44 am

Playtech, one of the world’s most important providers of slots and live dealer games for online casinos, has announced that its partnership with Mansion has reached a new market as the online casino operator has launched its brands in Ontario.

Playtech’s IMS platform is supplying both and, the two brands that are operated by Mansion, and now the supplier’s content will be available to players in Ontario through these two online casinos. The two companies had been in a partnership since 2020, when they signed a cooperation agreement for the following five years.

Speaking about the Ontario launch, Shimon Akad, the Chief Operating Officer of Playtech, declared himself delighted after having reached “a key market for the gambling community.” Moreover, the Playtech executive expressed his belief that the launch further strengthens the partnership between the supplier and the operator.

Chris Block, the President of the Mansion Group, declared himself “extremely proud to be approved by the AGCO and iGO to operate in Ontario.” The president also said that he is confident that the company’s two online casino brands “will be successful in Ontario and will positively contribute to the regulated iGaming market.”

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A few weeks ago Playtech announced that the company’s financial status is in good health after the firm secured an amended credit facility worth around 270 million dollars in order to refinance its debt.

The company needed this credit facility in order to refinance senior secured notes and an existing revolving credit facility worth 530 million euros as both were set to reach maturity in the fourth quarter of 2023.

The new amended revolving credit facility is due to reach maturity in October 2025 but it also has an extension option for another year. Moreover, Playtech also announced that in November 2022 it will redeem at par secured notes worth 330 million euros.

The company explained that this partial settlement will result in savings of around 12 million euros in the upcoming year. Moreover, the total annualized savings could go up to 20 million euros as the balance of the outstanding bond will be repaid at maturity or even sooner.

Playtech also announced that it will have more than 200 million euros at its disposal in cash following the early redemption. The other part of its debt obligation, worth 350 million euros in secured notes, will not reach maturity before 2026.

SOURCE“Playtech and Mansion launch in new markets and strengthen their relationship as long-term strategic partners“Playtech. November 7, 2022.

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