Playtech extends long-running Betfred partnership to 2024

Gambling technology giant Playtech has extended its partnership with operator Betfred to provide exclusive casino, live casino, bingo and poker services and content until 2024.

Playtech’s agreement with Betfred dates back more than ten years and was set to expire this year before the extension.

“We are delighted that Betfred, the world’s largest independent bookmaker and a key long-term partner for Playtech, has chosen to commit to an exclusive agreement across four key verticals,” Shimon Akad, chief operating officer at Playtech, said.

The agreement will include an extension of Betfred’s live casino space at Playtech’s facilities in Riga, Latvia. The space was launched in 2018.

“Betfred’s decision to invest in an exclusive live casino space in 2018 was a significant step in developing our working relationship, and has seen Betfred develop a highly compelling live offering,” Akad said. “We’re very much looking forward to working together over the next four years to continue delivering innovative content backed by industry-leading technology.”

Rakesh Chablani, managing director at Betfred, said the extension would allow Betfred to continue to focus on creating a strong player experience.

“Having had a strong and successful partnership with Playtech for over ten years now, the extension of our exclusive agreement for another four years represents an exciting opportunity to continue growing our business,” Chablani said.

“We’re passionate about creating the best possible player experience across all verticals, and we’re confident that the continued development of our dedicated live casino space, plus an unparalleled selection of casino, bingo and poker content, will allow us to do exactly that.”

The news follows Playtech’s announcement of the launch of three new live roulette tables with GVC’s PartyCasino, PartyPoker and Bwin brands in Spain.

In its results for the year to 31 December 2019, Playtech said revenue grew 23% to €1.51bn while adjusted EBITDA increased by 11% to €383.1m. However, the impact of discontinued operations and tax meant it reported a net loss of €19.6m