Microgaming Network’s popular skin, Ladbrokes, has announced a long term licensing agreement with Playtech to move its poker products to the iPoker network.
The Playtech-Ladbrokes deal allows the struggling operator to utilize industry leading technology and gain advice from its consulting firm, PT Turnkey Services. Ladbrokes hopes to reverse its recent annual revenue decline of 39% through the use of the rapidly growing Playtech platform. In addition to its deal with Playtech, the operator has also acquired The Nation Traffic (soon to be named Ladbrokes Israel) to bolster its customer service and marketing campaign.
Ladbrokes plans to move its entire offerings to the Playtech platform over a set period of time beginning in May 2013. The operator plans to launch an initial “Vegas” tab that will offer Playtech casino and game suite products on the mobile and tablet devices.
Ladbrokes has also announced the migration of its poker products to the largest network in the world. The flagship skin for MPN has seen its poker products struggle in the face of strong competition from independent PokerStars and Full Tilt Poker. The migration will allow Ladbrokes to reinvent its product and move to a rapidly growing network. Although the timeframe for this move has not been announced, the operator hopes for a smooth transition to the iPoker network following its contractual obligations to the Micrograming Network (MPN).
The Playtech-Ladbrokes deal comes two weeks after William Hill announced its £424m purchase of software provider’s 29% stake in the popular operator. The purchase voided the non -compete clause of the initial agreement and allowed Playtech to take on business ventures with rivals such as Ladbrokes. The recent business moves have bolstered the stock prices of the three companies and has given more flexibility to Playtech and William Hill.