Playtech to License Software to Betfair

Shares in casino software developer Playtech soared today with the announcement of their new licensee, Betfair.

Playtech only recently signed another big name book maker - William Hill to use its popular multi-platform software. The William Hill deal has already been vindicated as one that contributed significantly to Playtech's recent strong profit results. And investors no doubt believe this deal will likewise bolster Playtech's bottom line.

Betfair are one of the world's largest online betting brands achieving quantum growth in brand awareness, revenues and world wide customer base from their novel betting options.

Betfair do already offer existing casino and poker offerings, and in a strong endorsement of the Playtech product will replace the existing software platforms (casino software currently used is licensed from Chartwell Technologies). Playtech's platform offers licensees access to online casino, online poker, bingo, mobile casino, and live dealer games all from the one provider.

Playtech's license model is typically based on shared licensee revenues, and they stand to profit handsomely as Betfair's customer base migrate to its Playtech powered offerings.

Shares in Playtech surged 10% Tuesday on news of the deal.