Playtech targets Germany and South Africa in Double Joint Ventures

Playtech has announced that it has signed a Joint Venture agreement with Peermont Group, the leading South African gaming and entertainment business.  This will enable Peermont to establish itself as a leading online gaming operator in the South African market. At the same time Playtech also announces signing agreements with leading German gaming group, Merkur-Gauselmann.

The agreement to set up these double joint ventures in advance is an imminent anticipation of a revision of the online gambling regulations in the 2 countries. This will enable the concerned parties to prepare for the expected regulatory approval process in view to be granted a license to operate when the time comes.

These double joint 50:50 ventures (49.99% with the Merkur-Gauselmann. Group) are long term strategies aimed at providing certain activities at first and will be broad-based as soon as new online gambling regulations are implemented. In South Africa, the joint venture will probably be launched early this year with a Sports Betting License and will most probably expand and also explore other venues and possibilities of extending its operations in the region.

Playtech CEO Mor Weizer, is very confident of success because its existing business has not stop growing in the last 2-3 years and this growth is the stepping stone to invest and to build a solid reputation in 2012.

With discussions going on about online gambling regulation in most countries, in Europe as well as the US, the possibility of market opportunities is very real indeed. Playtech is also in good communication with prospective partners in the US following a statement by the US Department of Justice on the “Wire Act” in December 2011.

Written by Paul for freegamingworld.com