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DATE: May 27 2012
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Poker.co.uk - Poker News Archive

Monday 14th January 2008

Playtech Takes Aggressive Approach

Online gambling software developer Playtech has announced that it is planning an ‘aggressive’ acquisition strategy after enjoying strong growth towards the end of 2007.

Playtech stated that it is currently in talks to sign licensees in the Spanish and Italian markets for the first time. In addition, it said that a service signed with a large unidentified Asia-facing online gaming operator would be launched by the end of the first quarter.

According to the Financial Times newspaper, Playtech is also understood to have signed a further licensee agreement with a separate Asian operator that is to be announced after approval from regulators.

Unusually for a software company, Playtech takes a percentage cut of licensee revenue and, according to the Financial Times, faces price pressure from rivals including Microgaming, a privately owned counterpart of similar size, and smaller developers such as CryptoLogic. However, the company stated that it was confident that it would meet analysts’ estimates for 2007 with pre-tax profits expected to be $68.8 million on sales of $102.8 million.

Playtech also stated that the European Championship Of Online Poker held in December was its largest event of the year and awarded $2.5 million in guaranteed prizes and helped monthly sales reach ‘record levels’.

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Source: OnlineCasinoNews

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