News

BCLP advised Playtech Plc in connection with its investment in Hard Rock Digital

BCLP advised Playtech Plc in connection with its investment in Hard Rock Digital

Mar 16, 2023
Download PDFDownload PDF
Print
Share

Summary

BCLP has advised client Playtech plc (Playtech), in connection with its $85 million investment (c. €80 million) in Hard Rock Digital (“HRD”).

Playtech, the world’s largest online gaming software supplier, invested $85 million (c. €80 million) in exchange for a single-digit equity ownership stake in HRD, the exclusive, global vehicle for interactive gaming and sports betting for Hard Rock International and Seminole Gaming. The proceeds from Playtech’s investment will predominantly be used to help fund HRD’s continued global expansion. Hard Rock branded online and retail sports betting and iGaming is currently being operated in select U.S. states, including Arizona, Indiana, Iowa, New Jersey, Ohio, Tennessee, and Virginia, with the expectation for additional launches in the future. HRD also plans to extend its online sportsbook and iGaming offerings to select international markets over the next several years.

Alongside the investment, Playtech and HRD entered into strategic partnership arrangements, under which HRD will license a range of Playtech’s proven technology solutions and iGaming content to deliver the authentic experience customers have come to expect across Hard Rock's global ecosystem of entertainment, hospitality and bricks and mortar casinos.

The BCLP team was led by Amit Parekh (Corporate Transactions, Irvine), Aaron Lang (Corporate Transactions, New York), and Lindsay Cross (Corporate Transactions, Atlanta). The deal team also included Garrett McDowell (Corporate Transactions, St. Louis), Kevin Gamarra (Corporate Transactions, Irvine), Olivia Hunter (Corporate Transactions, Atlanta), Benjamin Lee (Corporate Transactions, London), Olivia Russell (Corporate Transactions, London), Cathryn Benedict (Tax, St. Louis), Jason Haislmaier (Intellectual Property, Boulder), Julie Bellville (Intellectual Property, Denver), Megan Gajewski Barnhill (International Trade, Washington), Jennifer Mammen (International Trade, Washington), Charles Jellinek (Employment and Labor, St. Louis), Sara O’Keefe (Employment and Labor, Kansas City), Mark Kaye (Employment and Labor, London), Cass Hollis (Employee Benefits, Atlanta), Meredith Silliman (Employee Benefits, Charlotte), Ken Achenbach (Insurance, Atlanta), and Aaron Lapniewski (Insurance, Atlanta), among others.

This material is not comprehensive, is for informational purposes only, and is not legal advice. Your use or receipt of this material does not create an attorney-client relationship between us. If you require legal advice, you should consult an attorney regarding your particular circumstances. The choice of a lawyer is an important decision and should not be based solely upon advertisements. This material may be “Attorney Advertising” under the ethics and professional rules of certain jurisdictions. For advertising purposes, St. Louis, Missouri, is designated BCLP’s principal office and Kathrine Dixon (kathrine.dixon@bclplaw.com) as the responsible attorney.