Sportowys decision reflects Playtechs key strengths and unique appeal to large government-run organisations in regulated and newly regulated markets.
Under the deal, ILTS Delaware is the surviving corporation and changed its name to "International Lottery and Totalizator
Buyer: International Lottery and Totalizator
Licence holder can apply for these types of permits to carry out gambling activity: permit to open gaming establishment (casino), permit to open category A gaming machine hall, permit to open category B gaming machine hall, permit to open bingo hall, permit to open betting station, permit to open totalizator
station and permit to carry out gambling activities through communications.
It can take two forms:- bookmaking, where bets are placed against the bookmaker who incurs a financial risk dependent upon the bets placed and the outcome of the race, or- under a tote or totalizator
arrangement, where bets are pooled and winnings paid out as a given percentage of the monies received with no financial risk to the operator of the betting system.
MARK MICHALKO, CEO of INTERNATIONAL LOTTERY & TOTALIZATOR
SYSTEMS INC (ITSI.