Playtech to power PartyGaming's newly acquired gaming websites |
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Published
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Tue, 02 Jan 2007 12:28
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LONDON: Online gaming software maker Playtech said it has concluded a long term agreement with online gambling company PartyGaming for using its software to run the gaming websites PartyGaming has recently acquired.
The firm said the agreement will come into effect after PartyGaming completes the acquisition of businesses and assets from Empire Online and Intercontinental Online Gaming. The four-year agreement provides for the gaming websites that PartyGaming has acquired from these two companies to exclusively use Playtech's software.
Chief executive of Playtech Avigur Zmora said his company's software will compliment PartyGaming's existing products even while providing additional sources of revenue.
PartyGaming has acquired NoblePoker.com, Clubdicecasino.com and other assets from Empire Online for 19.2 million pounds, while it has bought gaming assets from Intercontinental Online for about 14 million pounds.
PartyGaming said the two deals would help increase its earnings by more than 4 million pounds.
Empire Online, with this divestment, will become an investment company.
The changes in U.S. gambling laws and total ban on internet-based betting in that country have severely affected PartyGaming and it is now using the merger and acquisition route to build up its business.
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