Online Casino

On Thursday, a joint announcement was made from two of the biggest names in the world of gambling, PlayTech plc and NetPlayTV plc that they have entered into a five year partnership deal. The AIM-listed companies will gain enormous mutual benefits from this deal that will create a knock on effect in great benefits to gamblers.

The live and interactive television gambling specialists NetPlay intends to migrate its interactive and online gambling operations, which includes EuroTeleMillions, bingos and supercasino to PlayTech's casino software platform. In return for this, PlayTech licensees are to be given full access to the hugely successful live and interactive gaming products owned by NetPlay. This deal also provides NetPlay with access to PlayTech's full suite of online gambling products that include poker, casino, bingo as well as television and mobile games.

For the deal to be finalised, the approval of a majority of NetPlay shareholders is required. The company is already in receipt of irrevocable commitments from 43.4 percent of shareholders who will vote in favour for the proposed resolutions at the next General Meeting. To add to the many advantages of this move, the company is raising £12.5 million from a sale of its shares to boost the potential of its future growth.

The migration of NetPlay's Bingo from its present software provider will mean a significant increase in the offering of PlayTech's Bingo games, as well as positioning the online casino software provider as one of the market leaders in live gaming. This follows the company's strategy to diversify their already extensive products portfolio as well as to create for its licensees more cross selling opportunities.

An announcement was made by NetPlay TV that they have conditionally placed some 58,352,476 of 5p new ordinary shares at 22p per share. The new shares will represent in the region of 29.9 percent of their enlarged share capital and they are to be placed with Directforce Trading Limited, an investment company the beneficiary of which has a similar beneficial interest in one of PlayTech's significant shareholders.

NetPlay TV CEO, Martin Higginson, said that the agreement will elevate his company to greater levels which will enable them to further develop their newly converged gaming solutions. There is ever more demand for live gaming by ever more customers. This deal will provide the way forward in delivering their products to a far wider audience than ever before.