Playtech informed investors that it purchased $85m of stock in Hard Rock Digital to acquire a “low single digit minority equity ownership” in this firm it has partnered for online casino solutions.
Playtech has announced a strategic partnership to the US online operator. Playtech will provide its technology solutions as well as online casino content for Hard Rock Digital in the USA and Canada.
The $85m investment will be used to finance Hard Rock’s expansion in the USA and select international markets over the next few years.
Playtech announced that it will not only provide Hard Rock with a cash injection but also its “broad global market knowledge, software and services”. This will help the operator achieve its global ambitions.
Playtech stated that it expected “minimal impact” on its B2B results for 2023, despite the substantial monetary value of this agreement. However, it is expected to increase B2B revenues starting in 2024.
Mor Weizer is the Playtech CEO. He said that “The Playtech team was thrilled to announce our strategic partner with HRD. Hard Rock International is a global marquee brand in the world of gambling and entertainment.
“HRD will bring together the strength of the global brand and a proven management team. Some of these people we know from Playtech for many years, and they are among the best in the online gambling world.
“This partnership is a significant advance for Playtech in the North American market, and it aligns with our B2B strategy.”
Apart from the investment, Playtech will supply Hard Rock’s online casinos with its igaming content, including its slots, random numbers generators and live dealer tables games, to be used across the operator’s existing offerings.
The content can also be used in international markets, where Hard Rock will be able leverage additional software and services offered by Playtech, such as its IMS player management platform, and ancillary service.
“This partnership will act an accelerator to Hard Rock Digital’s planned strategic initiative, expanding its online gaming offerings into international markets, becoming a first operator with a worldwide omnichannel offering under one singular, irreplaceable brand,” stated Jim Allen Chairman of Hard Rock International, and Chairman of the Board of HRD.
“This announcement reinforces our commitment in leading innovation in the gaming sector and expands the ‘Hard Rock” experience worldwide. We are looking forward to offering a digital experience that is authentic and unique for Hard Rock’s worldwide fan base through an omnichannel offering.”
This deal follows Playtech’s US retail gaming debut through a deal with Gold Rush Gaming, Ohio.
