Playtech First Quarter Results Released
Published: Thursday, May 10, 2007 Online-Casinos.com
PLAYTECH FIRST QUARTER RESULTS RELEASED
Revenues up on Q4 but down over same period last year due to US situation
Online games developer and turnkey provider Playtech says total revenues for the first quarter 2007 are up on quarter 4 but lower than the same period last year when US players were welcome at the firm's licensees. Whilst total revenues rose 14 percent over the last quarter of 2006 to US$19.8 million, there was a 5 percent decrease when compared to quarter 1 revenues in 2006.
Revenues excluding US contributions increased 22 percent compared with Q4 2006 and 85 percent compared with Q1 2006, illustrating the impact of the US withdrawal.
The company reported that the merging of Tribeca licensees into its iPoker network had been completed a month ahead of schedule, doubling the number of players registered on the network and making it one of the largest on the Internet. Business opportunities in the European online gaming market had grown substantially and was expected to continue to do so, while the slowdown in its Asian segment was attributed to the restructuring of one of its licensees due to be completed by the end of Q2 2007.
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