BUSINESS

mybet growth stifled by weak margins; High 5 for Playtech; Jackpot Party brings the Glitz

TAGs: Germany, glitz, high 5 games, jackpot party, myBet, Playtech

mybet playtech jackpot partyGerman sports betting provider mybet reported strong growth and weak margins in its results for the third quarter of 2012. Revenue for Q3 showed a small increase to €15million (2011: €14.7m) with revenues for the nine months to the end of September rising by an impressive 14.3 percent to €49.3m. The weak margins talked about above, blamed almost entirely on September, saw the EBIT drop to (€1m) when it was at €1m the year before. Sports betting stakes did show a rise of 20 percent to €38.6m and it comes in advance of the company’s iPhone and Android apps being introduced in Q4. In terms of the current performance in Q4, the statement added: “The fourth quarter of 2012 has started very strongly. For just the first week of October, the hold for mybet products was higher than the figure for the whole of September. The Management Board continues to expect revenue of between EUR 65 and 70 million for 2012 as a whole, along with a positive EBIT.”

High 5 Games has signed a new content supply deal with Playtech that will give online casino players an even wider selection of games to choose from. Playtech will offer a “double-digit number” of High 5 games to their online casino partners and it’s part of a multi-year agreement that was signed at EiG last month. The games will only be available in “legal and regulated jurisdictions” and it follows High 5 stating at the start of 2012 that it would be signing deals left, right and centre in the 12 months to follow. “We are thrilled to be working with High 5 Games, who has established itself as one of the best game creators in the industry,” said Mor Weizer, CEO of Playtech. “This relationship will allow Playtech to continue to offer market-leading products to all of our valued partners.”

Jackpot Party has premiered a new online slot with Glitz going live later today. The money burst slot game has 60 lines of play and there will be a prize draw with 32 guaranteed winners for anyone that plays Glitz between 12pm and 12am on both November 8 and 9.

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