Playtech has invested in Hardrock Digital and entered into a strategic partnership
Playtech has entered into a far-reaching global partnership with Hard Rock Digital (HRD), the iGaming and sports arm of Hard Rock International and Seminole Gaming.
HRD customers in the US and Canada will have access to a selection of Playtech slots, live dealer table games and random number generator games via HRD’s existing proprietary platform and technology offering.
Outside the US and Canada, HRD has access to HRD’s player management platform and other solutions, including operations management, payment advice and marketing, and customer care services.
Playtech acquires minority stake
In support of the transaction, Playtech has acquired a single-digit minority interest in HRD for $85 million from Hard Rock International and Seminole Gaming.
Playtech has acquired a minority stake in Hard Rock Digital (HRD), the interactive gaming and sportsbook division of Hard Rock International and Seminole Gaming, as part of a broader agreement between the two companies.
Hard Rock currently operates online and retail sportsbooks in the US within the borders of Arizona, Indiana, Iowa, New Jersey, Ohio, Tennessee and Virginia and expects to expand internationally.
Revenue sharing part of the deal
In addition to the stock purchase, other long-term agreements include a revenue share with Playtech in exchange for offering its products and services through HRD.
Mor Weizer, CEO of Playtech, said: “The Playtech team is pleased to announce our strategic partnership with HRD. Hard Rock International has established itself as a household name worldwide, not only in gambling but also 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 gaming industry.
“For Playtech, this partnership significantly strengthens our position in the North American market and is in line with our B2B strategy.”
Hard Rock International and HRD Chairman Jim Allen added: “This partnership will accelerate Hard Rock Digital’s planned strategic initiative to expand its online gaming offering into international markets and become the first operator with a global, omnichannel offering under a single, irreplaceable brand.
“This announcement only reinforces our commitment to driving innovation in the gaming industry and expanding the “Hard Rock” experience worldwide. We look forward to delivering an authentic, digital experience to Hard Rock’s global fanbase through a comprehensive omnichannel offering.”
Source: Hard Rock Digital and Playtech enter into strategic partnershipHard Rock Digital News, March 14, 2023
https://www.casinonewsdaily.com/2023/03/15/playtech-acquires-less-than-10-stake-in-hard-rock-digital-for-85m/ Playtech has invested in Hardrock Digital and entered into a strategic partnership