Playtech Stock Rises After Deal With Casino Gran Madrid

Playtech Stock Rises After Deal With Casino Gran Madrid - 17th March 2009

Playtech has not sat quietly while CryptoLogic announced their deal with Paramount Entertainment. The former was busy inking their own deal, one which caused their stock prices to rise once again.

Playtech had recently announced that they were joining CryptoLogic as a developer of Marvel comic hero slot games for online casinos. Then, seemingly to steal the spotlight, CryptoLogic penned a deal with Paramount Entertainment that would bring movie characters together with online slots.

Now, Playtech has answered the bell once again. They have signed a licensee agreement to supply casino and poker software to Casino Gran Madrid. The deal further solidified the stock price of Playtech, which had already been on the rise.

"The Madrid region is one of the leaders of Spain's online gambling regulation drive, meaning the deal also reinforces Playtech's strengthening regulated position," said Collins Stewart.

After the agreement was announced with Casino Gran Madrid, stock prices for Playtech rose almost a full percent. The company has been in competition with CryptoLogic to become the world's leading online casino software provider.