The new multi-year deal builds on a longstanding relationship between the supplier and the Flutter Entertainment-owned operator, dating back more than 10 years.
As part of the new deal, Playtech will remain the exclusive provider of Self Service Betting Terminals (SSBTs) for Paddy Power in both the UK and Ireland.
Playtech said the new deal comes amid a period of growing popularity for sports betting terminals in retail shops, which was in evidence during the recent Fifa World Cup. It has recently rolled out new features such as the improved Betbuilder and Player Props.
Shimon Akad, chief operating officer at Playtech, said: “Paddy Power has grown into a leading force since its inception over 30 years ago, and we look forward to building on our successful partnership with them. Our software performance has made this ongoing collaboration possible, and we are set on progressing plans to provide a customer-centric roadmap for the years ahead as we continue to develop new technologies aimed at digitising the retail space.”
David Newton, chief operating officer at Paddy Power, said: “We are pleased to continue our strategically important relationship with industry leader Playtech. Playtech terminals are integral to our retail offer and a crucial part of the future strategy of our shops. We look forward to expanding this even further in the coming years.
“The future of our partnership is bright as we leverage Flutter’s market leading pricing capabilities to deliver new markets and betting opportunities for Paddy Power customers using the Playtech terminals. We are focused on delivering a fantastic omnichannel and betting experience to even more players.”
Playtech announced last week that it expects its adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) for the 2022 financial year to reach at least €400.0m (£352.1m/$436.0m).
In a trading update, Playtech said the business continued to perform strongly since posting “strong” first-half results in September last year.