Continued Strong Performance From Playtech In Q3-2013

CONTINUED STRONG PERFORMANCE FROM PLAYTECH IN Q3-2013

29th October, 2013 at 02:40:09
Source: http://www.azonlinecasinos.com

Revenues rise 16 percent, boosted by strong online casino and sports betting performance.

The Isle of Man-based online gambling provider Playtech plc has posted another set of strong quarterly performance results, reporting that group revenues rose 16 percent, boosted by a 24% rise in casino returns (x-ref: Playtech-powered casinos list) and growing sports betting success.

Reporting on performance in the three months ended September 30, the company highlighted the following quarter-on-quarter revenue stats:

* Total revenues up 16% to Euro 90.6 million (Q3-2012: Euro 79.9 million)

* Casino revenues up 24% to Euro 46.8 million (Euro 38.5 million)

* Services (including Poker Strategy) up 7% at Euro 28.5% (Euro 26.9 percent)

* Bingo slightly down at Euro 4.2 million (Euro 4.4 million)

* Sports betting delivered a strong result, up 39% at Euro 3.4 million (Euro 2.6 million)

* Poker down significantly by 21% to Euro 3.2 million (Euro 4.1 million)

* Videobet revenues stable at Euro 2.9 million.

* Cash on hand as at September 30 was a healthy Euro 523.2 million.

Issuing a trading update Tuesday, Management advised that average daily revenue for the first 27 days of Q4-2013 is up over 12% on Q4-2012 and up over 5% on Q3-2013.

Operational highlights included:

* Acquisition of PokerStrategy

* Ladbrokes launched Vegas tab in July

* Bet365 launched mobile LIVE on HTML5 in September

* First launch of HTML5 mobile poker in September with two licensees

* Mobile poker native iOS application approved by the French App store

* Currently, the business geographical split is Europe 64 percent; Asia 25% and rest of the world 11 percent.

Mor Weizer, Playtech's chief executive officer, commented:

Playtech has continued its growth through the third quarter and the management team is confident of achieving market expectations for the full year and beyond.

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