Playtech Buys Into Hard Rock Digital

Online betting group Playtech has announced this week that they've purchased a minority stake in Hard Rock Digital, the online operations of land casino operator Hard Rock International and Seminole Gaming for $85 million.

The agreement will see Playtech obtaining a small percentage of the company, and will see Playtech working to partner with the company in expanding its online operations around the world. Currently, Hard Rock has operations in the states of Arizona, New Jersey, Ohio, Virginia, Indiana, Tennessee, and Iowa, but is looking to expand into more states, as well as throughout regulated jurisdictions globally.

At the outset, Playtech will provide Hard Rock digital with the company's online gaming content, which includes casino games and sportsbetting options. The software will be done on a revenue-share basis, and Playtech said they expect the contribution to their bottom line to rise in their 2024 full year financial results.

Regarding the deal, Playtech CEO Mor Weizer said, "The Playtech team is thrilled to announce our strategic partnership with HRD. Hard Rock International has cemented itself as a marquee name worldwide, not just in gambling, but more widely in entertainment.

"HRD will combine the strength of this global brand with a proven management team, some of whom we at Playtech have known for many years and believe to be among the strongest in the online gambling industry.

"For Playtech, this partnership significantly advances our position in the North American market and is very much in line with our B2B strategy."

Hard Rock International Chairman Jim Allen also commented, adding: "This partnership will act as an accelerator to Hard Rock Digital's planned strategic initiative to expand its online gaming offerings to international markets, becoming the first operator with a global omni-channel offering under a singular, irreplaceable brand.

"This announcement only reinforces our commitment to lead innovation in the gaming industry and expand the 'Hard Rock' experience worldwide. We look forward to providing an authentic, digital experience for Hard Rock's global fan base within a comprehensive, omni-channel offering."