Playtech have announced one of their biggest contracts after agreeing a 10 year deal with Gala Coral. Furthermore, they have purchased Swedish mobile gaming developer Mobenga.
According to the Financial Times, the agreement with Gala Coral is worth €5 million a year and will continue for the next decade. The deal entails Playtech supplying Gala Coral with a full range of their gaming products. This includes sports betting, casino and bingo and will involve a migration from existing software providers to the Playtech platform. This will take place in early 2012 and the aim is to be fully operational by the end of 2012.
The agreement between Playtech and Gala Coral has finally been agreed after Gala Cora signed a memorandum of understanding with Playtech back in May this year.
Playtech have also announced today an agreement to purchase Swedish mobile gaming developer Mobenga. According to GamingIntelligence.com, the deal is reported to be worth up to €23.8 million.
Mobenga is “the leading provider of mobile sportsbook betting platform” and work with online gaming companies such as Stan James, Unibet, NordicBet, SkyBet and Paddy Power. The initial fee for Mobenga is €8 million and a further consideration based on a 6x multiple which is capped at €15.8 million.
In Mobenga, Playtech has acquired a mobile solution that delivers sports betting to smart phones and tablets which include Apple products, Android and HTML. Clients who use their service can fully customize how it looks and feels and can offer live video streaming too. Mobenga was only formed in 2005 and won the prestigious Rising Star of the Year award at the eGaming Review B2B awards in 2011.
Mor Weizer, Playtech’s Chief Executive, said that “recent developments in mobile gaming are increasingly important in driving player acquisition and delivering demonstrable revenue streams. Sports betting has always been the core product for many operators – one which creates different cross selling opportunities to other gaming products. This deal will position Playtech as the leading mobile gaming provider to take best advantage of the growth in mobile gaming and to integrate sports betting alongside its existing mobile casino, poker and bingo offerings providing the operators the ability to offer a complete multi-product mobile gaming solution.”
He went on to say that “the Mobenga team has successfully developed and rapidly deployed a flexible solution which is highly regarded by many of the industry’s largest operators and are growing their licensee base strongly. By integrating such a proven and sophisticated mobile platform into our offering, and gaining access to the excellent skills and know how of the Mobenga team, we continue our strategy of positioning Playtech as the preeminent independent software provider. We are delighted to welcome Mobenga into the Playtech family.”
Christian Rajter, who founded Mobenga and is the CEO, said he was “very excited by the opportunities this deal brings. It will help us take Mobenga to the next level and gives us exposure to the widest possible group of potential licensees. It underpins the future growth of the business and we look forward to being part of the Playtech team and contributing to the development of a leading mobile capability integrated into the market’s leading gaming platform.”