Playtech expands US presence with Greenwood Racing
16th February 2021 8:45 am GMT | Last updated: 16th February 2021
London-listed gaming supplier Playtech is expanding its presence in the United States through a strategic agreement with various subsidiaries of Parx Casino owner Greenwood Racing.
Playtech will license its product to Greenwood companies in Michigan, Indiana, New Jersey and Pennsylvania, beginning with the launch of an online casino in Michigan on its IMS Platform and Player Account Management (PAM).
Parx currently operates online sports betting and casino in Pennsylvania and New Jersey, with plans to expand its operations to further states in the near future, and will migrate its operations to the Playtech platform and utilise the company’s online casino products.
“This strategic partnership with the Greenwood companies represents a major milestone for Playtech and I’m excited to work with them to help achieve their growth plans in the coming years,” said Playtech chief executive Mor Weizer.
“The US is a highly strategic market and this multi-state, multi-product agreement highlights the demand for the full breadth of our product offering. This is the next step for Playtech in the US and we are delighted to work with the Greenwood companies to capture this exciting long-term opportunity.”
The agreement expands Playtech’s presence in regulated US iGaming markets, where the company already provides its products to bet365 and Entain in New Jersey.
Shares in Playtech plc. (LSE:PTEC) were trading 2.23 per cent higher on the news at 495.80 pence per share in London early Tuesday morning, setting a new 52-week high of 502.60 pence per share.