Playtech Online Gambling Software Firm Growing Fast

Published Sunday, August 30, 2015 -
Playtech Online Gambling Software Firm Growing Fast

Playtech says it is "the world's largest gambling software and services supplier” and looking at the financial results in 2014 of 140.7 million euro that statement sounds correct. The firm which was created by Teddy Sagi in 1999 has grown in leaps and bounds over the years with an amazing rebound after the 40 percent drop in its value after the US government banned online gambling in 2006.

Playtech is now into the third quarter of the year, and the firm claims the average daily revenue in its gaming division for the first 55 days of the period is up 15% over the previous year, and slightly down in the second quarter of this year.

Playtech chairman Alan Jackson commented on the financial outcome, “We have completed a series of strategic acquisitions to create and enhance our new ‘Financials’ division, a high-growth and regulated industry, and our continued operational delivery across all business segments has translated into a strong financial performance across all key metrics, with revenues up by a third in the half year.” Jackson continued to add, "Our Gaming business continues to go from strength to strength with our strategy of focussing on regulated markets driving growth.” “Our pipeline remains strong, with significant opportunities across all geographies, as customers seek to benefit from our market-leading omni-channel offering and our best-of-breed products in each and every product category.” “Taken together, the progress we have made gives me great confidence that the sustained momentum in our business will result in further growth in 2015 and beyond.”

Reflecting also on the appointment of Paul Hewitt as a non-executive director Jackson said, “Paul brings a wealth of experience across a variety of sectors, including in the financial services industry, and his experience will prove invaluable to Playtech's continued growth,”

Playtech has been all about growth with the board of directors and shareholders recently accepting the proposal to acquire the spread betting company Plus500 for approximately £459.6 million.  


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