Sun Bingo and Fabulous Bingo Deal with Playtech

Playtech, the Israeli gambling software firm founded by billionaire Teddy Sagi, who specialise in the supply of gaming software, recently announced they are signing a contract with the British publishing house News UK. This is in relation to the launch of two new mobile sites – Sun Bingo and Fabulous Bingo, which (you can tell by the name) will focus on fans of the game of bingo. The contract is for five years. The previous partner of the publishing house was the company Gamesys.

A subsidiary of Playtech called Virtue Fusion will be developing and maintaining the two bingo sites for mobile phones. The work is expected to begin in August 2016 and all already registered users will be able to take advantage of the new resources, without having to re-submit their details to the new applications. Sun Bingo and Fabulous Bingo are already known as one of the most famous platforms for bingo online in the UK, acquired by Gamesys back in 2008 from Tombola. With traditional bingo halls suffering from regulations and (oh yes) smoking bans, online bingo has been winning over more and more new players, and so Playtech are no newbie in running bingo services – they have under their management those for Gala Coral, Mecca Bingo, William Hill and Paddy Power Bingo.

Earlier this year, all divisions of Gamesys aimed at end customers (B2C) were purchased by the holding Intertain Group, turning Gamesys virtually into a B2B (business – business) player in the industry. With that in mind, it is clear that the loss of such a large contract as News UK, has become a serious problem for the business.

It’s an interesting fact to notice that not so long ago Playtech announced their purchase of Plus500 – a brokerage service. The deal is estimated at £460 million and already passed preliminary approval by UK authorities. However there were some formalities to settle by the end of the year as a condition, to which Playtech declined to abide. According to themselves “changes” demanded by the FCA would take too long to implement, and so they ditched the deal. With this deal falling through, Plus500 got themselves another buyer – a competitor called AvaTrade, with an offer for £69 million, which was opposed to by the shareholders.