Playtech Reports Increased Revenues

Last week Playtech issued a statement to the London Stock Exchange, where it has been traded since 2006, reporting an increase of 18% in revenues for the first half of the year.

This is a pleasant surprise as many believed that Playtech’s recent withdrawal from the French offshore gaming market would adversely impact the company’s revenues.

However even after taking into account the approximately €7million lost in French market revenues, Playtech still managed to come on top. Absolute revenues were also up by 5% and net profit increased by 2% in year-on-year profits.

Even the numbers reported for Q3 results seem very promising and would make a lot of shareholders very happy as Playtech reported a year-on-year increase of 23% in daily revenues.

Much of Q3 increases can be attributed to the fact Playtech was one of the first gambling software license providers to enter the Italian market in the recent wave of new licensees to introduce cash poker and casino products to the EU’s single largest gambling market.

In addition Playtech has a good acquisition track-record which is aiding in positioning the company in various regulated markets that are constantly helping it to generate new revenue streams. Just in the past year they purchased mobile specialist Mobenga and closed a 10 year deal with Gala Coral to supply them with Playtech products.

A deal that Playtech completed just this recent July to acquire PT Turnkey Services Ltd. Is already bearing fruits for the company and it seems that Playtech’s insatiable appetite for investing and purchasing companies that develop new technologies, together with its constant drive to position itself strongly in new emerging markets will continue its steady growth.