One of the big success stories of online gaming is Playtech. The company traces its roots to a small startup in 1999 in Estonia. While Playtech certainly had some cutting-edge technology, CEO Mor Weizer attributes its success to people.
“Over the years, we have been fortunate to attract and retain some of the best and brightest in the industry who have created the industry’s leading B2B platform, content and services offering,” he says. “Our tenacity to build a strong industry offering, coupled with our commitment to innovation and collaboration with licensees, alongside our M&A growth strategy, have helped us become the vibrant company you see today.”
When he was appointed CEO, Weizer says he implemented several policies that have become keys to the success of Playtech.
“When I took the reins in 2007, I recognized the importance of bringing together a diverse and strong team, united by shared values and a common purpose,” he points out. “I set out to create an environment where every individual would be motivated and inspired.
“Over the years, we have nurtured talent from diverse backgrounds, fostering a truly inclusive and dynamic workforce, bringing their unique perspectives, skills and creativity to the table. Together, they have propelled Playtech to its current position as a global industry leader.”
As an early entrant into the iGaming business, Weizer says by focusing on the clients’ needs, Playtech was blazing a trail.
“I am proud to be part of a company that was an early pioneer of online gambling technology,” he explains. “Our focus from the company inception was tools and capabilities that really make a difference to the operators—capabilities that we equip our customers with to allow them to provide better quality and entertaining services, together with advanced safer gaming tools. We have built a breadth of experience and expertise alongside the most diverse technology and content offering across gambling verticals.”
During the last 20 years, Playtech became known as the “go-to” iGaming provider in Europe. But now, Weizer has set his sights on America, knowing the landscape is quite different from the continent.
“The most notable difference is the regulatory and licensing environment,” he says. “Each state has its own rules and regulations regarding gambling, making it necessary for companies to navigate a complex web of laws and obtain individual licenses in each jurisdiction. Another unique aspect in the U.S. market has been the fact that states licensing and regulating iGaming have been far slower than in sports betting. As a result, entering the American market as a gambling company requires careful consideration and adaptation to the distinct regulatory, cultural, competitive and demographic landscape.”
Weizer says Playtech is well on its way to becoming the most trusted B2B iGaming supplier in North America, with partnerships with Hard Rock Digital, Parx, 888, Rush Street Interactive and PokerStars.
“We are now well established at over 160 employees strong, currently licensed in 10 states, operational in five, and we expect to be operational in at least six or seven by the end of 2024,” he says.
“While the market is still in its early stage, the competition at the operator level is already fierce, and requires Playtech to focus on specific content, new concepts, and tools to support their focus on marketing and market share. Over time I believe that operators will focus more on retention tools and players’ value, where we excel.”