Speaking at the immense Playtech stand at ICE 2017 CEO Mor Weizer explained how the company’s ongoing acquisitive strategy is inherent to the Playtech ONE omnichannel concept.
While advancing shareholder value often comes at odds with developing new products, Playtech’s corporate strategy – which has no small whiff of philosophy about it – is in itself its greatest product.
Speaking to the press corps at ICE 2017, CEO Mor Weizer laid out Playtech’s vision for ‘increasing shareholder value through maximising the value of every operator and every player’. Omnichannel is the key, he says, enabled essentially through the acquisition of new companies, new products and new channels.
“What we are going to promote throughout the conference is the inevitable trend we see throughout our industry – the inevitable convergence between retail and online,” explained the chief architect of the company’s vision.
“We truly believe that on the back of regulation we will continue to see this convergence. And I’m happy to say that Playtech is uniquely positioned in this respect.”
For Weizer, Playtech alone offers operators the “end-to-end solution” based on new products that will enable them to grow their business online.
“Playtech might seem complicated, but for us our strategy is quite simple,” he postured.
“To add more customers every year; to continue to support the organic growth of existing customers; to provide them with more games, more products and more infrastructure so they can achieve their strategic goals.”
For a selected few and well recognised brands in regulated markets, he confirmed, Playtech aims to offer additional services to “accelerate growth” and “turnaround business”, as evidenced with William Hill and Ladbrokes in the UK, and Caliente in Mexico.
“Last but not least: acquisitions,” he added. “Acquisitions are an inherent part of our strategy.”
The group was busy celebrating its most recent acquisition at the ICE show, the software provider Eyecon – an “important transaction for us”, says Weizer, improving access to a new cohort of soft gaming operators and players, and “strengthening the existing relationships we have with operators like 888.”
The company also acquired rival Best Gaming Technology (BGT) last year for E138m. A “transformational” deal for the company allowing it to embrace an important element of omnichannel and add a market leading sports betting component to its holistic portfolio.
Such deals, while relatively small in comparison to the slew of multibillion pound merger witnesses in recent years, are quintessentially strategic. In Weizer’s words, converging aspects of retail and online affords Playtech “the ability to provide a seamless journey with one single infrastructure supporting both.”
Indeed, BGT now sits alongside its other sports betting assets, such as Mobenga, the mobile betting platform, as well as the firm’s retail FOBT and VLT businesses.
“We believe Playtech is more than just well positioned in this respect,” Weizer concludes.
“We believe it is best positioned to execute the Playtech One concept, the Paytech One strategy, and we intend to do that in 2017 and beyond.”