Company News

UPDATE 1-Playtech forms joint venture with Scientific Games

* Playtech shares rise 9 percent

* To combine technology with Scientific Games lottery skills

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LONDON, Jan 21 (Reuters) - Online gaming software provider Playtech PTEC.L has formed a strategic partnership with Nasdaq-listed lottery operator Scientific Games SGMS.O.

The joint venture, called Scriplay, will combine Playtech’s technological expertise with Scientific Games’ experience and strong relationships with U.S. state lotteries, the companies said in a joint statement on Thursday.

Playtech is one of the biggest companies on London’s AIM market, while Scientific Games makes lottery tickets, gaming machines and pre-paid mobile phone cards.

The companies said they will “jointly develop and market next-generation internet and land-based gaming products and services to regulated gaming operators in the U.S. and other countries”.

“We have highly complementary skill-sets allied with a global reach and this partnership provides the opportunity to leverage off this combined know-how to maximum effect,” said Playtech Chief Executive Mor Wizer and Mike Chambrello, his counterpart at Scientific Games.

Shares in Playtech were trading at 475.5 pence, up 9 percent, at 1320 GMT, valuing the business at 1.14 billion pounds ($1.86 billion).

(Reporting by Matt Scuffham; Editing by Rhys Jones)

$1=.6126 Pound