Playtech Releases 2Q Positive Financial Report

Published Monday, August 02, 2010 -

The Estonia-based firm Playtech has released it's second quarter results with a positive spin indicating an overall 2 percent increase in profits. The second quarter gross income levels were supported by strong growth in the casino and bingo segments, which relived the decline in poker revenues.
Playtech  the biggest company listed on London's junior market AIM, revealed gross income for the quarter totalled 44.5 million euros which was up 34 percent from the same quarter last year.
Playtech partnered with William Hill back in 2008 to develop William Hill's online sports book operations which has paid off in more ways than one including financially. The company said it's share of William Hill Online's profit was 7.6 million euros, up 4 percent on the previous quarter.
Playtech reported that trading activity in the first month of the third quarter was up more than 10 percent up from the same quarter last year but down 12 percent on the second quarter due to gamblers paying attention to the FIFA World Cup event and the usually slower summer season for online gambling.
Playtech is an internationality recognized technology business and has been developing consolidation acquisitions and agreements with firms such Virtue Fusion Alderney a U.K. based developer of Bingo and networked gaming solutions, contracting with existing online gaming operators, bookmakers, and media companies.
Playtech's system is fully integrated, with cross-platform capable software that enables players to access online, broadcast, mobile and server-based gaming terminals, through a single account.
New licensees include existing online operators upgrading or diversifying their offerings, government sponsored entities such as lotteries, and new entrants making their online gaming debut, particularly in the newly regulated markets.
Playtech is headquartered on the Isle of Man and was founded in 1999. With over 1,000 employees located in five countries. Most importantly many of Playtech's people are engaged in the research and development of future gambling technologies.





Related news

Return to Latest News