Synectics awarded contracts in US, Philippines

(Sharecast News) - Security and surveillance systems specialist Synectics announced on Thursday that it has been awarded contracts totalling $2.7m to deploy its flagship Synergy software platform in gaming resorts in the Philippines and the United States. The AIM-traded firm said the contracts included agreements with two new customers in the Philippines, where Synergy would be implemented in leading gaming resorts.

It said the platform was chosen to enhance surveillance and security in high-demand control room environments.

Additionally, Synectics said it had expanded its partnership with PENN Entertainment, securing contracts for two more casinos in its portfolio, bringing the total number of PENN properties using Synergy to 25.

The board said the projects were scheduled for delivery within Synectics' current financial year ending 30 November 2025.

"Today's announcement demonstrates our positive momentum in the gaming market, and the continued demand for our innovative, market-leading surveillance and security technology," said chief executive and chief financial officer Amanda Larnder.

"We are delighted to be collaborating with two new customers in the Philippines, further expanding our footprint in the region.

"Additionally, our continued partnership with PENN Entertainment demonstrates the enduring value and adaptability of Synergy in supporting PENN's complex security and surveillance needs across its portfolio."

At 1242 GMT, shares in Synectics were up 0.55% at 311.7p.

Reporting by Josh White for Sharecast.com.