Aug. 10 (Bloomberg) -- Playtech Ltd., a U.K. developer of online gambling software for PartyGaming Plc, won a contract to supply its technology to Internet poker operator PKR Ltd.

``Playtech will provide PKR.com with a bespoke online casino,'' Isle of Man-based Playtech said today in a statement distributed by the Regulatory News Service.

``PKR boasts over 7,000 concurrent poker players at peak times and we think that this deal could generate $1 million to $2 million of incremental earnings before interest and tax,'' Numis Corp. analysts including Richard Carter wrote in a note to investors today. ``Given recent share price weakness our recommendation moves up to ``buy'' from the previous ``add'' rating.''

The shares fell 32.25 pence, or 9.6 percent, to 304.75 pence in London. The stock has advanced 12 percent since the company first sold shares in March 2006, valuing Playtech at 654.5 million pounds ($2.93 billion).

To contact the reporter on this story: Trista Kelley in London at tkelley2@bloomberg.net

Last Updated: August 10, 2007 11:42 EDT