The contract will keep Playtech as the sole provider of Self Betting Terminals for Paddy Power's machines in Ireland and the United Kingdom.
Shimon Akad, COO of Playtech, stated: "Paddy Power has developed into a major force since its beginning over 30 years ago, and we look forward to continuing our successful cooperation with them.
"Our software performance has made this ongoing collaboration possible, and we are set on progressing plans to provide a customer-centric roadmap for the years ahead as we continue to develop new technologies aimed at digitising the retail space."
Meanwhile, Paddy Power's CCO, David Newton, stated: "We are happy to retain our strategically vital collaboration with industry leader Playtech.
"Playtech terminals are a vital part of our retail offering and a critical component of our stores' future strategy. We look forward to growing this even more in the coming years."
In other news, Paddy Power recently struck a long-term agreement with Inspired under which Inspired would provide fully integrated managed services for Paddy Power's UK estate of 1,400 terminals, including installation, remote and field technical support, and content and platform rollout.
Furthermore, in recent days, Playtech revised its EBITDA forecast for 2022 after continuing to perform "strongly" following its H1 2022 interim results.
As a result, Playtech anticipates that the company's unaudited adjusted EBITDA for the whole fiscal year 2022 will be at least €400 million ($435.5 million).
If this is the case, Playtech's adjusted EBITDA for 2022 would be 26% higher than the full-year 2021.
