Playteck Buys $85M worth of Shares at Hard Rock Digital in a Bid to Expand to The Us

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Playteck Buys $85M worth of Shares at Hard Rock Digital in a Bid to Expand to The Us

What Is the Partnership’s Goal?

The new partnership also allows Hard Rock Digital to supply Playtech’s casino products and services on a revenue-share basis under long-term commercial agreements. Hard Rock Digital will establish a strong US presence for Playtech, and the latter will provide the former with additional resources to fuel the expansion of these games.

However, the FTSE250 technology group don’t expect a significant impact on its Business-to-business results in the 2023 financial year but expects it to rise in the following year. This partnership, which has come at a time when the online gambling industry is experiencing fast growth after the COVID-19 pandemic, will enable Playtech to achieve its goal of expanding to the North American market.

The deal with Hard Rock Digital will be financed by Playtech and include an investment of $85m. Playtech’s Chief Executive, Mor Weizer, is delighted to have Hard Rock Digital as a partner. He commented: “The Playtech team is thrilled to announce our strategic partnership with HRD.”

He further noted that Hard Rock International had cemented itself as a worldwide marquee in gambling and entertainment. “For Playtech, this partnership significantly advances our position in the North American market and is very much in line with our B2B strategy,” he said.

Hard Rock’s chief executive officer, Jim Allen, explained that the partnership with Playtech was a perfect fit. They have a shared vision for the future, and Playtech is committed to helping Hard Rock Digital realise its full potential.