Paddy Power and Playtech extend 10-year betting terminal deal

The extension will see Playtech remain the exclusive provider of Self Betting Terminals for Paddy Power’s machines in Ireland & the UK.

Shimon Akad, COO at Playtech, said: "Paddy Power has grown into a leading force since its inception over 30 years ago, and we look forward to building on our successful partnership with them.

“Our software performance has made this ongoing collaboration possible, and we are set on progressing plans to provide a customer-centric roadmap for the years ahead as we continue to develop new technologies aimed at digitising the retail space."

Meanwhile, David Newton, CCO at Paddy Power, added: "We are pleased to continue our strategically important relationship with industry leader Playtech.

“Playtech terminals are integral to our retail offer and a crucial part of the future strategy of our shops. We look forward to expanding this even further in the coming years."

In other news, Paddy Power recently signed a long-term deal with Inspired, which will see Inspired provide Paddy Power with fully integrated managed services for its UK estate of 1,400 terminals, which includes installation, remote and field technology support and content & platform deployment.

Furthermore, in the last few days, Playtech adjusted its EBITDA outlook for 2022 after it continued to perform "strongly” following its H1 2022 interim results.

As such, the company’s unaudited adjusted EBITDA for the full year 2022 is expected to be at least €400m ($435.5m), according to Playtech.

Were this to be the case, Playtech’s adjusted EBITDA for 2022 would represent a 26% increase on the full-year 2021.