Playtech Online Gambling Software Supplier Q1 Financials Impressive

Published Wednesday, May 02, 2012 - Online-Casinos.com

Playtech has made some good moves over the years and continues to keep investors happy with good returns. No one seems to care if the company’s largest share holder Teddy Sagi has been pulling some strings with the results that came about recently everybody feels like a winner.

Chief Executive Officer for Playtech, Mor Weizer spoke about the results, “Playtech has made an excellent start to 2012. Year-on-year growth across all our products has been strong, with the exception of poker. The services division is performing ahead of management’s expectations, which has provided us the confidence to agree a discounted accelerated payment of the PTTS acquisition’s initial consideration, whilst also looking increasingly certain to trigger the additional consideration threshold. We expect the services division to continue growing as the exciting opportunities in markets such as Germany and Spain come on stream. Although we anticipate a seasonal slowdown during the traditionally weaker summer months, I believe that the Company is well positioned to maintain the momentum into the rest of the year.”

Playtech has released yet another set of impressive results with total revenues for the first quarter of 2012 increasing by 104 percent to €75.1 million with their gross income up 90 percent to €88.4 million. Playtech’s videobet performed impressively with a incremental rise of 171 percent to €2.4 million with most verticals giving the firm an substantial increase in revenues with the exception of the poker division. It looks as if the software developer and supplier has pull away from plans to get more involved with social network gaming. The potential is still great in that direction so there are probably plans still in the works to develop more in that direction. Playtech has still got a major grip on the online gambling software industry and sees the future as bright a rosy for now.

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