esports betting

Playtech inks esports agreement with Golden Matrix

2 minutes read
Industry giant Playtech has announced a collaboration agreement with social gaming platform supplier Golden Matrix, to expand both companies’ share of global esports and betting markets.
eSports

Under the terms of the agreement, Playtech will gain exclusive rights to distribute Golden Matrix’s newly developed suite of peer-to-peer (P2P) esports betting games.

It will also be able to deploy its AI player acquisition and retention system through Playtech’s global network.

Golden Matrix will also receive non-exclusive rights to distribute Playtech’s most popular games through its operator network, including live dealer games, slots, table games, bingo and poker.

“This collaboration agreement with the industry’s most prestigious technology provider and distributor represents a significant milestone in our company’s expansion and growing success,” Golden Matrix chief executive Brian Goodman said.

“With Playtech as our Peer2P distribution partner, GMGI’s exciting content will now be introduced to new gaming audiences, thus extending the company’s reach into new territories – including the fast growing US market where we expect to establish a significant presence.”

Playtech chief executive Mor Weizer added: “Playtech’s success is driven by key strategic partnerships with the industry’s leading specialists that complement our technology, increase our scale and breadth of offering and extend our distribution capabilities.”

“We are delighted to announce the new partnership with experienced technology provider GMGI. This is the exciting first step in our partnership which will see us launch esports, P2P and other innovative software as well as expand distribution of our world class content.”

In March, Golden Matrix licensed its GM-X platform to 24 new clients, and expected this number to grow significantly, as operators shifted online amid lockdowns resulting from the novel coronavirus (Covid-19) pandemic.

Results published in September showed that Playtech suffered a 22.5% fall in revenue in the first half of 2020 as the pandemic disrupted several areas of its business.

Revenue for the six months to 30 June declined to €564.0m (£513.0m/$664.6m), as a strong performance from its financial division TradeTech proved unable to offset a 13.5% drop in B2B revenue, and a 41.0% drop in B2C’s contribution.

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