Playtech, the online casino software and gaming provider has stated that it has sold all of its stake share in Sportech, the United Kingdom based gaming firm. This company is one of the few companies in Europe that have a license that allows it to offer gambling services in the United States. The collaboration between the company and Playtech would have allowed the later to become licensed in the gambling industry of the United States. Playtech has acquired a minority stake share in Sportech for a price of 10 million pounds and this money was used by the company in order to acquire Scientific Games Racing, a company that has a pari-mutuel license in the state of New Jersey making Sportech licenses in New Jersey as well.
A week ago, the authorities of New Jersey stated that the application period for the licenses of the technology provider will end on the 29th of June. As a result, Playtech and other companies will not have enough time in order to prepare their license application. Experts believe that the short deadline was intentional as the regulators are trying to prevent offshore companies such as Playtech from entering the online gambling market in the state following the legalization of online gambling. Despite the legalization, the state and its regulators are still very hostile towards any service providers from outside the United States. As a result, Playtech has sold its ownership and its share in Sportech.
For those who want to enjoy Playtech casino games, it powers numerous online casinos and poker rooms. This includes Winner Casino among others.