Playtech Ready for Online Gambling in the US

Submitted by Beth on Thu, 2010-08-26 at 20:39

In a recent interview, Playtech’s CEO has admitted that the online gambling software company is ready to hit the US online gambling market once the activity is legalized there. Several gambling companies are preparing to enter the US market but Playtech executives believe they are ahead of the game.

While the legislation process is not over yet, Representative Barney Frank’s online gambling bill has made it past the US House Financial Services Committee, causing several major online casino operators to contact Playtech about providing gaming software for them.

All industry insiders understand that there is no definite timeline for an answer regarding legalization in the US but want to prepare for it anyway. From many standpoints, it certainly appears that online gambling will be legalized but until it has actually been done, online gambling companies are forced to sit and wait for news.

Playtech’s shares increased significantly at the end of July, after the US House Financial Services Committee approved the bill. Investors are always looking to buy low and sell high when it comes to company shares and this is probably a good time to invest in Playtech. If the software company manages to snag a number of online gambling contracts, the shares will definitely be priced much higher than they are right now.

The fact that Playtech is already in talks with several operators gives them an advantage over their competitors in that they will probably be given a lot of work right from the start, something that other software companies are not privy to.