Tradetech, a trading division of PlayTech, must be rebranding at the end of January after the news over the past few months that gigant of game technologies is negotiating the sale of business.
The official launch of the updated financial unit Playtech is scheduled at the end of the current month. Kate Ryan, head of the Tradetech marketing department, told the news agency Finance Magnates that the upcoming rebranding marks the beginning of a new exciting stage for the company and its customers, and that they are very happy to come up with a significant name that will help to achieve a cherished goal – become the largest player on "global game markets and technologies ».
Playtech, the company, the main business of which includes the provision of B2B and B2C services for the global gambling industry, has formed its financial trading unit in 2017 after purchasing a CFH GROUP in a transaction for $ 120 million and a FX and CFD Alpha Capital Markets Market Makers for 150 Million dollars. Tradetech also includes the Retail Brokerage Division of Playtech in the Markets Mark.Com.
After weak results in 2019, the condition of TradeTech in the first half of 2020 improved against the background of the increased volatility of the market and trading volumes caused by the coronavirus pandemic. Playtech reported in his report for the first six months of 2020, that the TradeTech revenue increased by more than 123% over the reporting period to 87.3 million euros, and the basic earnings increased from 8.2 million euros in 2019 to 52.8 million euros In the first half of 2020.