International edition
September 18, 2020

Firm’s CEO Mor Weizer in an interview

“Playtech is well placed for US gambling regulation”

(UK).- Gambling software provider Playtech is getting plenty of interest from US gambling operators as the country moves towards regulation of online gaming, its chief executive said this week. "The timing is not clear but we see a genuine and positive momentum towards the regulation of online gambling," Mor Weizer told Dow Jones Newswires.

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We see a lot of interest from operators in the US, and we are in discussions with various local groups,"  Weizer added.

Shares in Playtech and other online gambling stocks surged late July after the U.S. House Financial Services Committee approved an act which, if made law, would legalize and regulate online poker and some other forms of online gambling.

Playtech makes its revenue by licensing software to gambling companies, but is not itself a gambling operator, unlike competitors such as Partygaming and Sportingbet. Weizer said this gives the company an advantage as the US market opens up, as it will make it easier to form partnerships with local gambling operators. "Local operators will dominate," he said. "The fact that we are a business to business company means we have a different approach to operators; we will not compete with them."

Major US gambling firms include MGM Resorts International, Penn National Gaming and Harrah's Entertainment. Weizer didn't specify with which firms he is in discussion.

Weizer said the timing of liberalization is "very hard to predict," but added that Playtech's relationships with U.S. companies--such as its joint venture with New York-based Scientific Games mean it is well placed to take advantage of any legislative progress.

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