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DATE: May 24 2012
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Wednesday 28th January 2009

Playtech Posts Record

Playtech, a leading global designer, developer and licensor of software for the online and mobile gaming industries, has reported that record revenues for the fourth quarter of 2008 saw it post figures for the entire year of $144.8 million. The firm stated that revenues for the final quarter of last year increased 52 percent from the same period in 2007 to $40.9 million while those for the third quarter were eleven percent higher at $36.8 million. This pushed total revenues for the year up 70 percent from the $85.3 million reported for 2007. Playtech revealed that casino revenues totalled $28.6 million, a 52 percent rise from the $18.9 million it took in for the final three months of 2007, while those from its poker operations totalled just over eleven million dollars, an increase of 43 percent from the $7.7 million it reported over the same period in 2007. The firm also announced that its share of players' income from Asia-facing licensees for the period grew by 26 percent while its segment of European licensees increased by eleven percent. Playtech said that it had achieved the considerable milestone of successfully entering the regulated Italian market during the fourth quarter. It revealed that current results indicate that its Italian poker network will significantly enhance future revenues above expectations. In addition, the firm announced that it had finalised the implementation of a deal with William Hill that saw the operator launch its casino and poker products using Playtech software. 'Once again we have enjoyed a successful quarter both operationally and strategically as we continue to grow the business and make the most of the opportunities presenting themselves,” said Mor Weizer, Chief Executive Officer for Playtech. “We are particularly pleased with how smoothly the integration of the William Hill joint venture has progressed, which bodes well for this important strategic company development.”

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Source: OnlineCasinoNews

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