Playtech revenues grow by 18%

Playtech revenues grow

Playtech revenues growPlaytech’s half year results have seen revenues grow by 18% to €76.3m if you don’t take into account their withdrawal from the French offshore marker. Gross income also increased by 19% to €95m and even if you include the withdrawal gross income rose by 8% with revenues up by 5%

Roger Withers, non-executive chairman, commented, “Playtech has continued to make strong progress in an uncertain market, winning new licensees, exploiting opportunities in existing and soon to be regulated markets and identifying valuable acquisitions which will add to the Group’s offering.

“Despite the complexity and uncertainty of moves towards regulation in Europe and the US, Playtech has positioned itself, both independently and through its joint ventures, to benefit from the continued growth of the online gaming market. As more jurisdictions move towards regulation, Playtech is able to offer new and existing operators a market leading suite of products and services, helping them to navigate the complexities of changing regulatory environments.

“With a strong pipeline of new opportunities and the continued development of our offering, we look to the second half and beyond with optimism and are excited about the future as Playtech is increasingly consolidating its position as the supplier of choice for technology and services for the worldwide online gaming industry.”

The release also added that the board of directors remain “confident” that the firm will meet expectations for the year. The second half of the year has already been good for Playtech with daily average software revenues for the first 54 days up more than 23% compared to 2010. Going forwards to see what acquisitions the company will make with Chief Executive Mor Weizer remaining silent on the issue after there were talks earlier this year between the firm and Ladbrokes.