Playtech Confirms Betclic Everest Poker MoveOnce Mighty Standalone Online Poker Room Tries To Kickstart Its Fortunes Again On iPoker Network |
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Playtech today confirmed it has launched Betclic Everest’s Betclic poker product in France and Everest Poker in international markets on the iPoker.fr and iPoker.com networks.
Everest Poker, which once was a major World Series of Poker sponsor, had annual revenues of over £100 million and its own network, has floundered in recent years and has been reduced to scrapping its own network and throwing in its lot with Playtech in an attempt to kickstart its fortunes again.
Ignacio Martos, chief executive of Betclic Everest Group, said he was pleased with the move which would offer best in breed technology to its players.
“Larger liquidity and state of the art features will give our players a superior experience,” he claimed, “in line with our strategy of offering nothing but the best to our community of players. Playtech offers a market leading range of products including a world class Casino, which Everest will be taking full advantage of in 2013.
“Betclic will maintain its program of investment in technology and innovation, focusing on major regulated markets to sustain profitable business growth.”
Meanwhile Mor Weizer, chief executive of Playtech said, “It is a testament to Playtech’s market leading position and innovation that a renowned brand such as Betclic Everest Group has joined our iPoker network and liquidity pool. Playtech is committed to regulated markets and the launch demonstrates its unique position and ability to establish itself as the leading supplier in all regulated markets."
“France remains an important market for Playtech and the combination of Betclic Everest’s leading position and our advanced technology together with significantly enlarged liquidity pools will lead to material benefits for Playtech and Betclic Everest. Outside of France, the launch of Betclic and Everest poker on ipoker.com further strengthens the network’s liquidity and cements its position as the natural choice for leading poker brands.”
“We anticipate that the enlarged liquidity pools on iPoker.fr and iPoker.com will attract further brands to the growing stable of well-established operators and contribute to our future success.”
Analysts Daniel Stewart & Co. said in a morning note, “It is too early to estimate the impact the addition of Betclic Everest poker and casino could add to PTEC’s [Playtech’s] profits however PTEC management believes the new licensee will lead to material benefits for both operators. We reiterate our buy recommendation on the stock and expect today’s news to be well received by the market.”
Playtech’s share price was up 2.4p to 411.50p at the time of writing. Daniel Stewart has a target price of 480p on the stock.
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