Business News

UK and Irish bookmaker Paddy Power has extended its self-service betting terminal (SSBT) contract with Playtech BGT Sports (PBS) as the retail business looks to enhance betting experiences for its customers.

The extension of the multi-year contract will see Paddy Power increase the number of SSBTs it offers in its shops to meet customer demand, increase in-play betting options for customers, and drive incremental revenue growth.

Paddy Power's managing director of retail David Newton said that extending the agreement act was a straightforward decision after seeing the value provided to its retail shops in recent years.

"Enhancing the customer experience through market leading technology is key to our retail strategy and PBS' innovative, revenue-driving terminals provide the perfect platform to help us achieve our aims," explained Newton. "These include being able to leverage our own intellectual property with the Paddy Power Cash Card and our unique Onside app allowing customers to track and cash out their SSBT bets."

Playtech said that the extension reflects an ongoing trend of higher uptake in self-service products, with more and more customers preferring a digital experience in-store.

Through the deal, Paddy Power will also be able to offer PBS' horse and greyhound racing product, designed in partnership with publisher the Racing Post.

"We are very pleased to extend our contract with Paddy Power and look forward to building upon our already successful partnership over the coming years," PBS managing director for the UK, Ireland, Australia and Asia John Pettit commented.

"The backing of such a reputable retail operator emphasises the value of PBS, and SSBTs in general, to the betting shop and we look forward to further consolidating our position in the market, as we continue to improve existing products and develop new technologies aimed at digitising the retail space," Pettit said.

Shares in Playtech plc (Co.Data) (LSE:PTEC) were trading up 0.27 per cent at 930.50 pence per share in London Tuesday, while Paddy Power Betfair plc (Co.Data) (LSE:PPB) has seen its shares rise 0.77 per cent to 8,540.00 pence per share.