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Malaysia the problem for Playtech

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8 years ago

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Malaysia the problem for Playtech
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Following news of its profits warning last week, Playtech has revealed more detail of its problems in Asia.

 

Shares fell 20 per cent on the news released yesterday that the group’s profits would be five per cent lower than the lower estimates of market expectations. Around €20m was removed from the company’s forecasts by analysts.

It is understood that the main Asian culprit for Playtech is Malaysia, currently an unregulated market but its government is taking steps to prevent Malaysians from accessing online gambling sites and mobile apps. The regulators there are looking at ways to close loopholes in its Common Gaming House Act of 1953 that currently enable Malaysians to gamble online.

As reported yesterday, the company’s problems are also exacerbated by the complex situation concerning the contract with Sun Bingo in the UK, for which Playtech provides the technology. This has run into problems and the Sun Bingo site is being relaunched.

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George Miller started his career in content marketing and has started working as an Editor/Content Manager for our company in 2016. George has acquired many experiences when it comes to interviews and newsworthy content becoming Head of Content in 2017. He is responsible for the news being shared on multiple websites that are part of the European Gaming Media Network.

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