Gaming software company Playtech has confirmed a four-year extension to its agreement with betting operator Betfred.

The Isle of Man-based company will now supply Betfred with casino, live casino, bingo, and poker services through 2024.

Commenting on the news COO of Playtech, Shimon Akad, said:

“We are delighted that Betfred, the world’s largest independent bookmaker and a key long-term partner for Playtech, has chosen to commit to an exclusive agreement across four key verticals.

“Betfred’s decision to invest in an exclusive Live Casino space in 2018 was a significant step in developing our working relationship, and has seen Betfred develop a highly compelling live offering.

“We’re very much looking forward to working together over the next four years to continue delivering innovative content backed by industry-leading technology.”

While Managing Director of Betfred, Rakesh Chablani, added:

“Having had a strong and successful partnership with Playtech for over ten years now, the extension of our exclusive agreement for another four years represents an exciting opportunity to continue growing our business.”

Playtech enjoyed strong performance in 2019, reporting revenue of €1.5 billion, up 22% year-on-year, and adjusted EBITDA of €383.1 million, up 11%, despite the company issuing a warning about a “highly challenging September and October.” In December, the firm also launched a new iGaming global compliance platform in partnership with TruNarrative.

Meanwhile Betfred has been establishing a foothold in the United States, with operations in Iowa and Pennsylvania.

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