Playtech acquires a minority stake in Hard Rock Digital
Online casino giant Playtech has entered into an expanded partnership with Hard Rock Digital (HRD), the iGaming arm of Hard Rock International and Seminole Gaming. As part of the deal, Playtech has purchased less than 10% of HRD’s shares for US$85 million, making it a minority shareholder.
Playtech acquires minority stake in Hard Rock Digital
As part of the merger between Playtech and HRD, the London Stock Exchange-listed gambling software development company founded in 1999 has purchased a 10% stake in the subsidiary of Hard Rock International and Seminole Gamingfor 85 million US dollars.
The deal comes as Hard Rock, which currently offers online and retail sports betting in the United States (in the states of Arizona, Indiana, Iowa, New Jersey, Ohio, Tennessee and Virginia), plans to expand its offerings globally.
The good news for Hard Rock Digital customers in the U.S. and Canada is that they will now have access to a selection of Playtech’s best slot machines, not to mention the provider’s live dealer table games, all offered via HRD’s proprietary platform.
As for Hard Rock Digital, internationally (outside of the U.S. and Canada) the firm is expected to have access to the player management platform provided by Playtech as well as a host of other solutions, including marketing, customer support and payment assistance.
Revenue sharing is part of the deal between the two providers
In addition to Playtech’s stock purchase, there are other long-term agreements. One of them concerns the revenue sharing between the two providers in exchange for offering Playtech’s products and services through HRD.
Mor Weizer, CEO of Playtech, has in any case made very enthusiastic public statements:” The Playtech team is thrilled to announce our strategic partnership with HRD. Hard Rock International has established itself as a prestigious brand around the world, not only in the gaming industry, but also in the entertainment industry more broadly “.
” Hard Rock Digital will now combine the strength of Hard Rock internationally with a proven management team, made up in part of Playtech members, who are recognized as heavy hitters in the online gambling industry “Playtech’s CEO concluded, noting that the partnership with HRD will strengthen its position in the North American market and fits perfectly with the firm’s B2B strategy.