Playtech and Buzz Bingo extend software licence agreement
Playtech and Buzz Bingo have announced an extension of their existing software licence and services agreement. This extension will be in effect until 2031.
The partnership will integrate Playtech’s wallet technology with Buzzbingo.com. It includes an omnichannel customer wallet and a customer registration process, with the goal of offering players a unified gaming experience across channels, including bingo, casino, live dealer, POP, cashier and native apps.
Buzzbingo.com, introduced to the market in September 2018, is an online bingo brand in the UK.
Dominic Mansour, Buzz Bingo CEO, noted: “Playtech has been an invaluable partner to Buzz Bingo as we create seamless customer experiences across our digital platforms and retail venues.
“Playtech’s extensive suite of products are helping cement our position as the leading omnichannel bingo brand in the UK. We’re delighted to extend our agreement and continue working closely to deliver exceptional gaming experiences to our players wherever they choose to play.”
Playtech recently reported financial results for H1 2023, with revenue reaching a five-year high of €859.6m ($905m), reflecting an 8% increase compared to H1 2022. Additionally, adjusted EBITDA saw a 10% year-on-year rise. In Q1 2023, Playtech reported growth in both its B2B and B2C divisions.
Playtech’s partnership with Hard Rock Digital in March 2023 involved an investment of $85m for a minority stake in the company, expanding the presence of sports betting and iGaming under the Hard Rock brand across several US states.
In its FY2022 report, Playtech disclosed a total group revenue of €1.6bn, reflecting a 33% year-on-year increase. Furthermore, adjusted EBITDA demonstrated growth, totalling €405.6m, marking a 28% increase compared to the previous year.
Playtech also partnered with IDVerse to enhance player safety through identity verification technology.
Lastly, Playtech collaborated with BetParx to launch a new sportsbook in Maryland to expand its presence in the US market.
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