Brian Caubarreaux & Associates
Five dubious failures of Playtech
Holland Casino Online has, years ago, partnered with Playtech for its online casino.
Although Holland Casino has previously called Playtech the "absolute Ferrari" of online casino platforms, Playtech is certainly not impeccable. CasinoBazen lists five dubious failures of Playtech.
Teddy Sagi founded Playtech in 1999. A few years earlier he had served a 9-month prison sentence. He received that sentence for forgery and insider trading.
Fair is fair: since then Sagi has cleaned up his act and is no longer in contact with the law, reported https://bollywood-casino.com/game/teen-patti/.
Sagi is one of the 5 richest people in Israel. His fortune is estimated at more than 5 billion American dollars.
In any case, it is never boring around Teddy Sagi. The Israeli tabloid press does a big spread every time a photo model is spotted holding his hand. Last month he escaped an assassination attempt in Cyprus, where he officially lives.
One of the biggest online gambling scandals ever is the one involving a progressive jackpot at Joyland Casino.
A Canadian player - one Sylvia P. - won a $4.1 jackpot on Playtech's Beach Life slot machine. Joyland Casino was also a so-called Playtech casino.
Even when casinos have payout limits per month, progressive jackpots are normally paid out in a lump sum to the winner. The software provider (in this case Playtech) pays the jackpot to the casino, after which the casino passes the winnings on to the player. The casino in this case was also Playtech.
Joyland Casino held Sylvia P. to a payout limit of $9,000 per month. Thus, she would have to wait 38 years until she received her honestly won prize in full.
Joyland Casino had no intention of paying out this amount in full to the winner. First, they pressured her to use the money to continue gambling. In the end, Joyland shipped the winner off with half the jackpot and some Joyland VIP points.
In which the winner actually didn't have much of a choice. It was either settle for half or watch Joyland pull out all the stops to avoid paying out the honestly won prize.
Playtech, after this painful affair, in which Joyland simply stole a fairly won jackpot, failed to immediately sever its cooperation with Joyland.
Playtech also failed to put any pressure, if any at all, on Joyland to get them to do the only right thing: pay out the millions.
A big land-based party, with big online ambitions, enlisting Playtech to run the online joint. Where have we seen that before? Right, at William Hill.
Playtech and William Hill entered into a joint venture to run William Hill online together. William Hill held 79 percent of the shares, Playtech 21 percent. That quickly led to a tribal war with William Hill on one side and Playtech on the other.
Some of the staff listened to orders only if they came from someone at Playtech. After the dismissal of a Chief Marketing Officer in Tel Aviv, a confidant of Sagi, wildcat strikes broke out at offices in Tel Aviv, Bulgaria, and the Philippines.
The relationship between William Hill CEO Ralph Topping and his counterpart at Playtech, Mor Weizer, was also pretty fraught. Topping publicly complained about Weizer's poor accessibility. In a personal blog post, Topping wrote that he could get a hold of Lord Lucan more easily than Mor Weizer.
In the end, William Hill saw no other solution left but to buy out Playtech for the top price.
Topping was not the only one unhappy with Weizer. Shareholders also revolted against Mor Weizer. Or rather, against a generous bonus that was paid out to Weizer.
A whopping 64 percent of shareholders voted down the renumeration report. This report lists the salaries and bonuses paid to Playtech executives.
Weizer was listed with a base salary of 1.1 million British pounds. On top of that he received a bonus of 1.5 million British pounds and some other perks, making a total of 2.9 million British pounds.
Last year, Playtech made negative headlines in the UK. After the suicide of a gambling addict, the UK Gambling Commission launched an investigation into Playtech gambling sites like Titanbet and Winner.
That investigation revealed that Winner & co were making quite a few gaps in protecting vulnerable players. Problem players and gambling addicts were not helped but were mainly encouraged to gamble (even more).
The gambling addict Chris Bruney played at Winner.co.uk. Because he bet quite often and a lot, he was a VIP player.
Instead of action being taken on his problematic playing habits, Bruney was showered with bonuses, free spins, and gifts.
How Winner had acted in the case of Chris Bruney, unfortunately, proved to be no exception. To avoid a multi-million dollar fine from the UK Gambling Commission, Playtech surrendered Winner.co.uk's license.
This lame trick was widely reported in the Daily Mail, after which Playtech - in an attempt to avoid further loss of face - donated 3.5 million British pounds to an addiction fund.
As you can see, even the most popular provider may not be very attractive, check PCs or smartphones: which is the future? Especially when it comes to personal money.