Playtech Cements Itself in Colombian, LatAm Markets with Wplay Deal
Gambling technology giant Playtech has further extended its focus on the lucrative Latin American marketplace with a “major structured agreement” with leading Colombian gambling brand Wplay.
Playtech today announced that under a recently penned deal with Wplay, it has become a strategic technology partner to the operator and would deliver its omni-channel solutions as well as operational and marketing services across Wplay’s retail and digital gambling operations.
Based in Medellin, Wplay was the first operator to receive an online gambling license by Colombia’s gambling regulator, Coljuegos, under the nation’s new gambling regulatory regime. That happened in the summer of 2017.
Aside from its digital operation, Wplay is also a leading provider of retail betting services. The brand manages more than 7,000 points of sale around Colombia. The major operator provides regulated sports betting across its retail network and offers affiliation to the rapidly growing Colombian online wagering and casino gaming market through registrations, deposits, and withdrawals.
Playtech’s agreement with Wplay is in line with the company’s strategy to team up with leading retail brands in newly regulated and fast-expanding markets. Through partnerships with some of Colombia’s biggest sports organizations, including major Primera A football league teams and the country’s Olympic football team, the Wplay brand is able to resonate with more than 35 million sports fans around the nation, which would give Playtech a further boost in this new lucrative market.
Under the terms of the deal, Playtech will migrate Wplay’s retail and online operations onto its IMS player management platform. In addition, the gambling technology giant will exclusively power all of the operator’s software across all regulated verticals. Playtech will thus be able to supply its own sports and casino offering as well as third-party online casino games through its open platform.
The agreement allows for the addition of more product verticals as regulation in Colombia and the LatAm region develops. Playtech will also deliver data driven marketing and responsible gambling tools to Wplay. In exchange, the operator will share a portion of its profits and revenue with Playtech.
Commenting on their latest strategic agreement, Playtech CEO Mor Weizer said today that “the strength and quality of the Wplay brand combined with Playtech’s 20 years of technology leadership in the industry will see us drive the online growth of the market in Colombia.”
Mr. Weizer went on that this deal was part of his company’s strategy to “deliver structured agreements with the leading brands in the most attractive markets globally” and that the Latin America region remains a key market for Playtech.
Wplay President Julio César Tamayo added that in addition to “strengthening Wplay’s leadership in Colombia this agreement will deliver the technology and expertise required to take the market in Colombia to the next level.”