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Playtech Acquires Stake In Hard Rock Digital

Posted on March 16, 2023 | 8:12 am

Playtech, one of the world’s most prominent providers of slots and live dealer games for online casinos, has announced that its influence in the world of iGaming has expanded with the acquisition of a stake in Hard Rock Digital.

The supplier will pay 85 million dollars for a single-digit percentage stake in Hard Rock Digital, the interactive gaming and sports betting division of Hard Rock International and Seminole Gaming.

The purchase is part of a larger deal between the two sides, a deal which includes the right for Hard Rock Digital to license a range of Playtech’s technology solutions and igaming content.

Hard Rock’s online and retail sports betting is currently present in several American states, including ArizonaIndianaIowaNew JerseyOhioTennessee and Virginia. The operator is preparing to expand to international markets in the next few years.

Following the Playtech deal, Hard Rock Digital customers in the United States and Canada will be able to enjoy slot games from the supplier along with live dealer games and random number generator titles.

The aforementioned products will also reach customers outside North America in the near future, because Hard Rock Digital will have full access to more software and services solutions delivered by Playtech, including the IMS player management platform.

The products will be supplied by Playtech on a revenue share basis as the two sides have reached a long-term commercial agreement. Playtech also announced that the impact of this deal on its financial results will most likely be felt in the 2024 fiscal year.

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Stronger Position In The North American Market

Speaking about the deal, Mor Weizer, the Chief Executive Officer of Playtech, described it as a “strategic partnership” and added that Hard Rock International is “a marquee name worldwide, not just in gambling, but more widely in entertainment.”

“For Playtech, this partnership significantly advances our position in the North American market and is very much in line with our B2B strategy,” Mor Weizer added. Last month, Playtech made another strategic investment in North America, spending 12.25 million Canadian dollars to acquire a stake in NorthStar Gaming, the Canadian casino operator based in Toronto, Ontario.

Jim Allen, the Chairman of Hard Rock International, expressed his belief that the partnership with Playtech would “act as an accelerator” for the expansion of Hard Rock Digital to new markets as it is set to become “the first operator with a global omni-channel offering under a singular, irreplaceable brand.”

SOURCE“Playtech acquires Hard Rock Digital stake in partnership deal“iGaming Business. March 14, 2023.

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