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Playtech’s improved 2nd quarter results

Playtech Limited, an iGaming software developer based in Isle of Man revealed their total revenues for the 2nd quarter of 2001 which rose by 7% to €39.59 million when compared to last year.

Playtech also released their revenues which showed a 19% increase over the 2nd quarter in 2010, but this excluded their efforts in France. These figures rose by 8% when compared to the figure obtained in the previous quarter.

A 24% increase to €27.3 million in revenues from all casino activities over last year was reported by Playtech. This result meant a 7% increase over the last quarter. However, Playtech also reported that its revenues from poker decreased by 24% over last year’s figure and it also means a 12% decrease from the previous quarter.

Playtech also reported a rise in Bingo revenues of 32% to €3.6 million over last year which also means a 5% increase that the previous accounting period. Playtech’s server based VideoBet gaming product achieved material levels for the first time as it made €2 million in revenues because of the rollout of its Global Draw contract.

Mor Weizer, Playtech’s Chief Executive Officer stated that “it has been a very positive quarter for Playtech continuing a solid start to 2011 and included both the finalisation of VideoBet’s UK roll-out and the completion of the PTTS acquisition.”

“Revenues and player activity have grown throughout the quarter and while we are moving into what is traditionally the quietest seasonal period, we are pleased with Playtech’s core business and the newly acquired PTTS, which has shown good resilience and is performing in line with our expectations.”

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