Does Playtech Have a Place in the US Market?
Playtech have played things very cool when it comes to their plans in the emerging US market. Whilst many other operators in both the online poker and casino industry have been singing from the rooftops about the plans to conquer the US, Playtech have been a silent observer on the matter. This may however be changing sooner rather than later, as the iPoker owner hopes to brings us news in the, "not too distant future." This comment came at a recent meeting to discuss Playtech's latest earnings report and investors were only too keen to hear the thoughts of CEO Mor Weizer, on why the company had not yet released it's plans to them. Roger Withers, the Non-Executive Chairman said that, “signs from the US are encouraging," adding, “developments are in their infancy and there remains much work to do to resolve regulatory, political and practical considerations.” Mor Weizer used exactly the same words when questioned on the issue. Take from these words what you will however statements such as this usually mean that something is going on behind the scenes and that when the time is right, plans will be revealed. Mor did add a little more than Withers by adding, “a number of strategic partnerships are being pursued to prepare for the potential opportunities offered by this large, diverse market.” More questions of course followed however they were met with sealed lips. Mor also said that, "Playtech’s strategy makes a specific point of the importance of regulated markets; “… the global process of regulating the online gaming industry continues to advance. This trend, led by national and local governments, is a key driver of Playtech’s current and future success.” Given these words I think we can safely assume that we will see Playtech in the US market in one area or more and it is indeed no stranger to it, although albeit on a small scale. They were involved in a joint venture with SciPlay which had a very brief existence with Playtech losing a reported $700,000 on the deal. However, that will not trouble the online gaming giant and with rising revenues in the last year we would hope that their next venture into this new market is a tad more ambitious.
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