Betfair announces Playtech iPoker move

Betfair announces Playtech iPoker move

Wednesday, January 9, 2013 Totally Gaming

Gambling group Betfair revealed it would be moving its players to Playtech's iPoker.com network later this month with the launch of New Betfair Poker. Online gaming provider Playtech said the shift was the start of a transition to an exclusive arrangement from July.

Discussing the move during last month’s interim results, Betfair said that access to Playtech’s iPoker network would give it “the flexibility to choose the best network for its customers on a country-by-country basis”.

A spokesperson for Playtech said: “Our network continues to see positive development from both a liquidity and technological standpoint, which not only benefits a large operator like Betfair but also secures Playtech’s leadership in the poker B2B market.”

The deal is estimated to be worth €2m-€3m in profits to Playtech, and €2m more in earnings before interest, tax, depreciation and amortisation to Betfair.

Analysis
The move is seen as an attempt to revive Betfair's online poker fortunes, after it last month announced a fall in active poker players from 93,000 to 85,000 year-on-year. However, poker only makes up a relatively small amount of the gaming firm's total revenues, taking £9.6m in first-half net gaming revenues, compared with £140.2m from sports and £29.4m from games. The move to Playtech signals the end of its relationship with its existing provider Ongame.


 

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