Playtech Halts Operations in Italy due to Covid-19

Due to a lockdown order issued by Prime Minister Giuseppe Conte, citizens and residents are staying home and are only allowed to travel after receiving permission, due to the coronavirus. That is why Playtech has decided to temporarily stop all operations in Italy until next month.

The company, which specializes in online gaming operations and technology, said in February that they expect to suffer losses in Italy and China as a result of Covid-19. Playtech is on ownership of Italy-based gambling company Snaitech, of which 70.6% stake was purchased in 2018.

According to reports, there have been over 460 deaths caused by the coronavirus. To stop the virus from spreading, the Italian government, has ordered the temporary closure of certain public establishments which include, arcade halls, bingo facilities, betting shops, cinemas, clubs, pubs and gyms. Activities such as sporting events, weddings and funerals have also been ordered to be suspended.

Playtech has already seen losses caused by the coronavirus. The company has seen revenue growth of $1.7 billion in 2019, 23% higher than last year the adjusted EBITDA up 11% to $433.28 million.

More on the Supplier

Playtech, which recently teamed up with SOFTSWISS, was founded in 1999 and ever since then, its approach has been centered on the continual development of best-of-breed gaming products and content, and its success built upon strong partnerships with their licenses. The company is the world’s largest online gaming software supplier offering cutting edge, value added solutions to the leading operators in the iGaming industry. With a little over 5,000 employees, in 17 countries, owning 140 global licenses in 20 regulated jurisdictions, the company is a giant in its own right.

The company also offers cross-platform management systems, running via a unified information system called the IMS, providing operators with the tools to maximize cross-selling opportunities, player loyalty and yield. Its product suite can be fully integrated into a complete cross-platform offering, enabling the players to access online, broadcast, mobile and server-based gaming terminals through a single .

Source:

“Playtech decides to take a break in Italy”, Erik Gibbs, calvinayre.com, March 11, 2020.