24th
Playtech and California Online Poker Association Sign Deal
- Posted in Best Casino Online / News
- Comments 0
International software and content provider to the online and land-based gaming industry, Playtech, has announced that it has become the first UK gambling group to sign a licensing agreement to provide the Californian Online Poker Association (COPA) with online software before the anticipated relaxation of the internet gambling restrictions.
Playtech’s Sciplay International joint venture will also provide the California Poker Association (COPA) with “play-for-fun” internet games. COPA is made up of a coalition of Indian tribal governments and card rooms and is licensed to offer land based poker.
Sixty percent of American poker players live in California despite the fact that online poker is currently illegal there and the association estimates that there are currently up to 2 million Californians who gamble online at illegal off-shore poker sites, leaving them vulnerable to theft and fraud. These online poker players spend more than $13 billion each year.
Playtech predicts that its license with the California Online Poker Association (COPA) will result in it becoming one of its top five revenue generators once online poker becomes regulated in the state.
An analyst, James Hollins, has noted that Playtech is very well placed for potential US poker legislation as California appears to be the key state in terms of poker liquidity.
The California Online Poker Association chose to sign the deal with Playtech over many of its rivals, including bwin.party, resulting in a rise in the group’s shares of more than 6% this week. Playtech will also be examining deals with other US based gambling groups.
