Flutter deal extends Playtech’s reach to Georgia and Armenia

Playtech will roll out its sports betting and igaming services to Adjarabet in Georgia and Armenia, with the live casino vertical highlighted as a particular area of focus.

The delivery of Playtech’s products to the two markets has been enabled by the London-based firms’ agreement with FTSE100 global gaming group Flutter Entertainment.

Having embarked on a global expansion strategy in recent years using a mix of M&A and local licence acquisitions, Flutter secured a controlling stake in Caucasian betting leader Adjarabet in 2019.

Shimon Akad, COO at Playtech, said: “Our collaboration with Adjarabet signifies our commitment to pioneering operations in emerging markets. We believe this trend will only accelerate – and we look forward to expanding even further globally.”

Adjarabet is a multi-product operator offering sports betting, poker and casino games, as well as utilising Flutter’s Betfair Exchange, the betting exchange operated by the company’s Betfair brand, one of its flagship assets.

Live casino has been singled out as a key area of focus for the partnership, with Playtech identifying this area as experiencing a ‘surge in popularity’ and as a ‘dynamic vertical that stands as one of Playtech’s fastest-growing verticals’.

The expansion of Playtech’s geographic reach via its new deal with Adjarabet comes closely after the firm confirmed rumours of its potential growth in Italy, where it is one of ‘several parties’ eyeing up a takeover of leading local firm PlanetWin365.

Meanwhile, Flutter has highlighted Georgia and Armenia as two markets posing significant opportunities for growth, as its international division – encompassing Adjarabet, Sisal, Junglee and the non-UK operations of Betfair – recorded interim EBITDA results of £284m this year.

Avto Oboladze, Head of Online Casino at Adjarabet, added: “The strategic partnership with Playtech cements our standing as a leading gambling operator in the region. 

“The integration of Playtech’s content into Adjarabet presents an exhilarating dimension for our valued customers, setting the stage for the partnership’s evolution.”