Playtech Limited ("Playtech" or "the Company")
Statement Regarding The Internet Gambling Enforcement Act 2006
Playtech (AIM: PTEC), the international designer, developer and licensor of software for the gambling industry, announces that following the passing of the Internet Gambling Enforcement Act 2006, it will stop licensing its software to existing and future operators who accept bets from US players with effect from the date the Act becomes law.
Playtech's software incorporates back-end features that enable operators to control and efficiently take such action to block specific jurisdictions. Accordingly the Company has requested that its existing licensees block transactions from players residing in the US as soon as practically possible following the Act's implementation.
From the date of the Act's implementation, Playtech will waive its right to any license fees with respect to any revenue generated from US players as identified in reports that the Company receives from its licensees.
As previously stated, the Board is confident that the Company has substantial business development opportunities in Asia, Europe and South America and is supported by significant cash resources and operating cash flows. The Board reiterates that the Company's new business and product development pipeline, including commissioned products, is entirely focused on non-US markets, as are all new licensees.
For further information:
Avigur Zmora, CEO, Playtech Ltd
c/o Bell Pottinger Tel: 020 7861 3232
David Rydell/ Peter Otero/ Amy Rajendran
Bell Pottinger Corporate & Financial Tel: 020 7861 3232
This information is provided by RNS
The company news service from the London Stock Exchange
More on Playtech
Playtech develops unified software platforms for the online gambling industry, primarily targeting existing online operators wanting to upgrade their system; sportsbooks looking to diversify and land-based operators making their online debut. Playtech gaming applications — online casino, poker, bingo, mobile gaming, live gaming, land-based kiosk networks and fixed-odds games — are fully inter-compatible and can be freely incorporated as stand-alone applications, accessed and funded by players through the same user account and managed by the operator by means of a single powerful management interface. Founded in 1999, Playtech has over 300 personnel distributed globally, around eighty percent of whom are engaged in research and development of current and future gaming technologies.