BUSINESS

Playtech announces Q3 revenue boost, new licenses for 2011

TAGs: Mor Weizer, Playtech

playtech-q3-licensesFresh off being pegged as International Company of the Year at the LSE AIM Awards, software provider Playtech has released Q3 numbers showing a 30% boost in gross income at €41.3m, with revenues up 17% to €32.5m. While casino and bingo revenues were up by 17% and 11% respectively, poker revenues fell 30%. CEO Mor Weizer is quick to state that things were trending back up in the months of September and October, blaming the summer slump on that convenient whipping boy, the 2010 World Cup, that black hole from which no poker company was immune. Or were some more immune than others?

In other news, Playtech is planning to announce 10 new licenses in 2011 — some casino and bingo, but predominantly poker-based. Weizer expects local operators will continue to take advantage of opportunities in the maturing French and Italian markets, as well as in countries like Serbia and Finland that are looking to open up their own gaming sectors. Playtech will be all too willing to assist these local operators, but Weizer stresses that the company’s selections will be based on ‘quality rather than quantity.’ For the record, Playtech now earns the majority of its revenue from regulated markets.

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