Playtech Shows a Significant Increase in Revenue in Third Quarter

Written by Michael W. | Friday, November 14th, 2008

Playtech has released their Q3 reports and has shown yet another increase from July – September 2008 with an increase of 67% compared to the Q3 reports from 2007. Reports indicate that their total casino revenues during this time period equated to more than 20.6 million Euros, while poker revenue jumped 60% from last year’s numbers, generating 7.6 million Euros.

Commenting on the results from Playtech’s Q3 reports, Mor Weizer, Chief Executive Officer said to the media, “This has been another strong quarter for the Group in what is traditionally the slowest period of the year. The addition of new licensees combined with organic growth during the period has resulted in continued growth across all business divisions. Combined with the strong November start, the Board believes that Playtech is well positioned for further growth during the remainder of the year and into 2009.”
A further growth they will have. While this quarter seen 4 new license agreements to Eurobet Italia, Sisal SpA and Cogetech SpA, the company also gained another strong brand adding the Mansion poker room to their poker network. Playtech also expanded their visibility into the Asian market with the release of their Asian P2P games, in addition to a new Bingo product for online players.

The final quarter of this year looks just as promising with Playtech working very close with William Hill to provide the UK Company with casino, poker and bingo games over the course of the next five years and will have a stake of 29% investment in the company.

Over the course of the current fiscal year, the company has seen total revenues increase 78% in comparison to last year’s earnings, totalling 80.1 million Euros. These figures are represented mainly through Playtech’s online casinos, which brought in over 57 million Euros during the first 9 months of 2008.

Playtech is one of the top two online casino software providers and has created over 100 online slot machines for their brand. They have continued to set trends in the industry, not online with their line of Playtech slots, but also by providing players with live dealer action, multi-player gaming and quality. As of October 2008, Playtech has a net value of more than 204 million Euros.

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