- Playtech teams up with Solverde Group
- iGaming in Portugal takes a mild dip in Q1, 2019
- The country continues to expand its gaming market
Playtech is entering Portugal with the help of local operator Solverde Group. The iGaming market has been showing signs of active growth.
Playtech Enters Portugal with Solverde Group
Following the expansion of the Portugal iGaming’s market, Playtech, a prominent supplier of gambling products has entered the online gaming market in the country by teaming up with Solverde Group, a local operator.
Playtech will offer the IMS player management platform directly on CasinoSolverde.pt, helping the website boost its online operations and help the platform cement its clout in the market. CasinoSolverde.pt will work to improve its offer by building around Playtech games.
In order to leverage its expertise better, Solverde will utilize Playtech’s data solutions to ensure better results across the board. Solverde also owns land-based properties in Portugal in the form of casinos and hotels.
Commenting on this opportunity, Solverde Member of the Board, Manuel Silva Carvalho had this to say:
“This is an exciting moment for CasinoSolverde.pt as we further develop the casino experience we offer to our customers. We are pleased to partner with Playtech to bring its industry leading casino offering to the Portuguese audience and are confident it will be a driver of growth for both our businesses in Portugal.”
Playtech CEO Shimon Akad explained that Playtech continues to be a preferred option among gaming providers who are focusing on expanding into competitive markets and obtaining an edge therein. Here’s what he added:
“This deal highlights the continued strength of our data driven platform to offer integrated solutions to operators and we hope to announce further successes in regulated markets soon.”
Portugal’s Q1, 2019 iGaming and Sports Betting Results
Meanwhile, Portugal’s iGaming results have remained strong to the point where the Serviço Regulação e Inspeção de Jogos do Turismo de Portugal, the country’s national regulator, has posted a solid return from iGaming.
Based on that data, licensed company raked in over $53 million in the first three months of 2019, setting Portugal apart as one of the most lucrative casino and gaming markets to date. Portugal has also been slowly becoming a place where poker thrives. This includes the entry of The Stars Group into the country back in May, 2018. The card room was recently joined by 888’s own poker portal.
Speaking of poker, the country’s Q1, 2019 results revealed an industry in trouble with the market share sliding down to 11.9% from 13.9% previously. Then again, sports betting has been doing well, although the activity also took a small dip, losing a million’s worth of total handle.
Portugal’s soccer fans continued to be the most bet on sport. Then again, new customers registrations dropped by 1.6% over the period. The good news is that slots continue to dominate the iGaming market and provide casinos with the chunk of their revenues.