Playtech and Paysafe launch global payments partnership in Europe
Posted: May 9, 2022, 10:03 a.m.
Last update: May 10, 2022, 12:09 p.m.
Playtech and Paysafe already have a strong alliance to offer digital payments in the North American market. This alliance is expanding, as the two cross the Atlantic into Europe.
Playtech recently fell on hard times, when a multi-billion dollar takeover by Aristocrat Gaming fell apart. Shares of the gaming tech company fell with it. But the leaders ignored and moved on.
Moving on means focusing on expanding. Playtech and Paysafe, a digital payments provider, announced on Monday that they have signed a global partnership. This will extend their cooperation to the UK and across Europe.
This partnership builds on an existing relationship between the companies, established through their ties to the United States.
Global Growth Commitment
Playtech offers Paysafe’s payment solutions to its technology platform customers, including iGaming operators. In the future, gaming operators across Europe will have access to Playtech’s iGaming information management solution to improve their payment operations.
The solution uses an API developed by Paysafe, as well as its digital wallet. It expands payment options, giving gaming platforms and users more flexibility.
Providing our iGaming Partners with cutting-edge technologies that deliver the smoothest and most engaging experience to their customers is absolutely at the core of our strategy at Playtech.“said Playtech COO Shimon Akad.
Playtech has seen a significant increase in business in the United States. He opened new casinos in the country and signed agreements with a series of new customers. It also launched new partnerships in Canada and late last year added two new live casino studios. One is in Michigan and the other is in New Jersey.
The latest expansion comes after both platforms completed their successful US integration with BetPARX. Since the second quarter of last year, Paysafe has supported traditional and alternative solutions offered by the iGaming name of the gaming platform, Play Gun Lake, Michigan.
For a good start in 2022
Playtech got off to a good start this year. It released a trading update last Thursday that highlighted strong results for the first quarter of the year.
Adjusted EBITDA for the first three months (earnings before interest, taxes, depreciation and amortization) was more than $106.2 million. The positive run rate continued through April, according to the company. He said both B2B and B2C segments are responsible for the positive results.
Snaitech, an Italian brand of the group, has seen the positive trends continue since the second quarter of 2021. These positive trends are the result of improvements in e-commerce, the recovery of the retail sector and favorable results in matter of sports betting.
B2B performance was mainly driven by the Americas, particularly Caliplay in Mexico. This is on top of strong performance in other B2B operations like Live Casino.
Live Casino also has several new licensees. Playtech North America has seen many new customers sign up. It has also established several partnerships in Canada since the launch of the Ontario market.
Playtech’s board is cautiously focused as expected, given the start of the year. This is combined with an uncertain context resulting from the pandemic and the war in Ukraine.
Despite losing its deal with Aristocrat, Playtech is still considering a takeover opportunity. He said he made progress with TTB Partners in Hong Kong regarding a potential offer. However, the company stressed that there was no way of knowing for sure whether it would ever receive an offer or what terms an offer might include.