Playtech buys stake in Hard Rock Digital, strikes strategic partnership

14th Mar 2023 10:19

(Sharecast News) - Gambling software company Playtech has announced a "landmark" strategic partnership with Hard Rock Digital (HRD), the global vehicle for interactive gaming and sports betting for Hard Rock International and Seminole Gaming.

Playtech also said on Tuesday that it has invested $85m in exchange for a low single digit percentage minority equity ownership in HRD.

Under the partnership, HRD will license a range of Playtech's technology solutions and iGaming content. In the US and Canada, HRD's customers will be able to use a variety of Playtech's iGaming content offering including market leading slots, RNG and live dealer table games through HRD's existing proprietary platform and technology offering.

These products will also be available outside of the US and Canada, where HRD will have access to additional software and services solutions from Playtech including its IMS player management platform and certain ancillary services including operational, customer support, payment advisory and marketing services.

The proceeds from Playtech's investment will be used mainly to help fund HRD's continued global expansion.

Playtech chief executive Mor Weizer said: "The Playtech team is thrilled to announce our strategic partnership with HRD. Hard Rock International has cemented itself as a marquee name worldwide, not just in gambling, but more widely in entertainment.

"HRD will combine the strength of this global brand with a proven management team, some of whom we at Playtech have known for many years and believe to be among the strongest in the online gambling industry.

"For Playtech, this partnership significantly advances our position in the North American market and is very much in line with our B2B strategy."