Forex by Playtech; Is this the Final Call?
Posted on January 24, 2010 by Shay Greenberg for Luckyroom.com
The establishments that have managed to keep in business today will most probably be the companies that will stay in business for quite a long time to come as there position in pioneering entry in today’s competitive online market has given them the edge; Playtech which is the software provider of some of the most successful casinos online and its subsidiary ipoker which is the software provider for William Hill Poker and more than 100 other poker sites are rumored to be moving to the online forex trading industry as they are currently on pending for a license to operate forex trading in the island of Cyprus (together with Gibraltar, Malta and Israel, Cyprus is one of the highly populated destinations for online gaming companies).
The powerful gaming group which has shot in the foot many of its participating poker sites with the implementation of its popular Fish Vs Shark ratio which in simple terms does not allow excessive winning players across its network seems to be either smelling a rat in gaming or is either just taking its cash flow from its operations and the recent fines imposed to site owners using its sofare and network to invest in its new forex trading venture. The company is headhunting affiliate mangers and representatives of gaming companies located in Cyprus to build up its team for its new online forex venture which is set to launch soon; It has not been made clear if Playtech will be using a proprietor forex trading platform at this point (which is the most probable scenario) or if it will be using one a forex platform used by other Israel companies running online forex operations in the Mediterranean Island.
It is noteworthy that last year the Cypriot government had honored Playtech’s founder for his contribution to the Cypriot economy over the years (most of the companies operations are located in Cyprus) by awarding him Cypriot nationality; it is interesting to say that Israel passport holders working in Cyprus based gaming companied travel back home every Thursday as they are not permitted to have permanent residence in Cyprus as non EU passport holders.
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