With the holiday season fast approaching, gaming enthusiasts in NJ have two new gaming studios to sample. One of the iGaming giants operating in country, Playtech, has just revealed that the company has finalized the setup of a gaming studio in New and another in Michigan. For many iGaming fans, the Playtech brand is synonymous with original gaming content.
The company is particularly popular for the creation of Age of the Gods, a highly acclaimed live roulette game series. The latest reports from within the provider’s management reveal that there are plans to serve the US gambling customer directly. Equipped with the technical capability to scale its operations, this is the perfect time for playtech to make a move in support of its vision.
In New Jersey, the brand has partnered with bet365 to cater to the iGaming market while Parx Casino is the worthy business ally that makes the iGaming customers of Michigan to look forward to more. Even though the opening of two branches at the same time might appear like a split second decision, Playtech promises even more surprises in the near future.
To inspire the rate at which Playtech continues to expand in line with its strategy to have footprints all over the United States, the brand drivers are looking up to Evolution, a direct rival in the market. According to the CEO of Playtech, Edo Haitin, the company is taking advantage of the fact that iGaming is fairly unchartered ground and the market often favors the pacesetters.
What we cover
iGaming is gaining popularity in the US
The consumer trends in the US and other parts of the world where gambling is legalized indicate the it is a sector that investors should be looking to invest in. This is why Playtech has formulated a strategic plan that will see it gaining considerable market share in the country. Typically, the marketing department translates more outlets into increased performance and high market share.
Haitin is also quick to address various company stakeholders by confirming that the recent expansion was well planned. Also the chief of live casino in the company, the CEO of Playtech assures customers that this phase of the company’s growth is going to be exciting.
For a long time, Playtech has been nurturing a strong B2B push with customers across multiple continents. Looking at the advances that have been made in the global marketplace so far, it makes sense that they will have the required strategy to expand into additional markets. Live gaming is particularly popular in jurisdictions where there is a legal framework to govern gambling related activities; this is the goodwill that Playtech is leveraging to grow its brand.
Haitin looks at the progress of the company and sees a web of profit for the brand and all other companies that will be engaging with Playtech for mutual benefit. The operator is on a path of innovation using the latest gaming technology tools so that the end products are appealing to fresh audiences and emerging markets.
Why Michigan and New Jersey?
The decision to launch the new live gaming studios in Michigan and New Jersey was influenced by the potential in those markets. According to Playtech management, MI and NJ are among the fastest growing iGaming economies in the United States. If their business projections are accurate, it would take the company a very short time to scale further. As the live gaming sector, continues to evolve, early adopters such as Playtech will stand to gain vertical growth.
New Jersey is host to many betting operators but this does not stop each one of them from meeting individual targets. Actually, having many similar businesses in one location appears to be a marketing gimmick in itself. If the same set of players driving the betting industry chip in to grow the iGaming sector, it will be a big win for everybody involved.
Acquisition Bid Reorganization for Playtech
The recent launches are just the crust of what is happening beneath the surface of Playtech operations. The broader context involves the recent push efforts by an Australian slot machine maker, Aristocrat Leisure. With an already established customer base in the US, Playtech is a great choice for foreign investors who are eager to expand their offerings in the digital gaming space.
In the meantime, Playtech is working on expanding its business to more US markets as states open up their markets to legal betting. The iGaming wave is spreading rapidly owing to the fact that it is a convenient form of betting that does not require gamers to leave their comfort. Many who now love to engage in it nurtured their passion over the pandemic period.
The current number of US states where gambling laws have been passed to open up the market to the business stand at 30. The prevalence of iGaming even in these states remains quite low. With New Jersey, Delaware, West Virginia, Connecticut and Michigan already earmarked for iGaming business, it is only a matter of time before the rest of the country catches on.
Conclusion
Online betting has grown immensely over the last year or so. The current pandemic, busy lifestyles and a rise in smartphone possession are just some of the factors that support this revolution. With iGaming where players engage with live dealers over the internet, the thrill is just like when playing in an actual casino. This is definitely for the younger generation that would love to try out gambling but are too shy to step into a brick and mortar establishment. As more players continue to be receptive of this new gaming model, we are bound to see more brands introducing this option into their offerings. Pacesetters such as Playtech will continue to amass fans as they wait for other companies to realize the impact that this new product will have on their revenue.
