Online poker giant PartyGaming has struck a licensing agreement with software provider Playtech which will result in the two firms joining to provide online gambling services in Asia. Financial details of the transaction were not disclosed.
Under the terms of the four-year deal, Playtech will power gaming websites that PartyGaming agreed to buy last month from Empire Online and InterContinental Online. In return, PartyGaming will have access to Playtech’s casino, poker and bingo products.
Shares in PartyGaming surged following the announcement.
Earlier this week, it was announced that the top PartyGaming executives would receive some £38m in bonuses following the implementation of bumper incentive packages designed to persuade them to stay with the troubled firm.
