Playtech signs 10-year long deal with Gala Coral

Playtech has concluded a ten-year long €5m a year deal with the UK gambling company Gala Coral. According to the contract Playtech will supply the group with a complete line of gaming products along with its IMS platform aimed to support the operator's whole product line and see Gala Coral's bingo migrate to Playtech's Virtue Fusion network.

Playtech will be in charge of the software supporting Gala Coral's online gambling products which include casino, sports betting and bingo with moving from present suppliers to the Playtech's IMS (Information Management Solution) platform and some products that will start in the first half of next year. This contract is the Playtech's first multi-product agreement, and is likely to start generating revenue by 2026.

According to the Financial Times the contract is in top three or four Playtech deals and could bring it up to €5m every year in pre-tax income.

Gala Coral and Playtech signed an agreement of understanding, which allows the bookmaker to move some of its platforms onto technology provided by the UK company.

Playtech's joint Venture partner, William Hill Online, was informed in advance on the agreement and, despite having prohibited earlier that month the similar deal with rivals Ladbrokes, this time gave its blessing. By that time Playtech reached an amicable resolution with William Hill giving Playtech ability to license the software to one more UK operator which remains unnamed. According to the resolution Playtech can conclude software agreements but is not allowed to enter joint ventures with rival companies.

Financial Times consider that the amendments to the joint venture give Playtech possibility to offer its casino and poker products to Ladbrokes.

Playtech already operates 6,500 Videobet terminals at Gala Coral as well as its Gala Coral's competitors, Ladbrokes and William Hill.

Gala Coral currently among its suppliers has Ash Gaming (games), Mfuse (mobile), Ongame (poker network), Evolution (live casino), Inspired Gaming (slots), Betradar (sports betting on Coral), Geneity (sportsbook platform, Cryptologic (slots games), Chartwell (casino), Jadestone (Dice Arena – skills games network), IGT (games, jackpot and slots) and Game Account (skill games).

Accordind to Playtech's CEO Mor Weizer, all the suppliers except Geneity will leave till the next year.

Andy Hornby, the former HBOS CEO will work at Coral group as its new managing director after a year of looking for filling the position.