Playtech Confident In Interim Statement

PLAYTECH CONFIDENT IN INTERIM STATEMENT

22nd October, 2014 at 07:55:50
Source: http://www.azonlinecasinos.com

Says Company will exceed market expectations for the full year

Playtech has delivered its Interim Management Statement for the three months ended September 30, 2014 (Q3/2014) along with a trading update.

The company said it continues its solid footing, with growth in this set of results representing its strongest ever quarterly performance.

Key performance indicators for the third quarter period include:

- Cash and cash equivalents of Euro 402.4 million (30 September 2013: Euro 523.2 million).

- A 33% increase in Playtech casino revenues to Euro 62.4 million (Q3/2013: Euro 46.8 million).

- Sport revenues amounted to Euro 7.1 million, up 18.8% (Q3/2013: Euro 3.4 million)

- Playtech's bingo product grew 9.5 percent, while poker showed a 3.1% growth.

- Total revenues amounted to Euro 116.5 million (Q3/2013: Euro 90.6 million), up 28.6 pecent.

Playtech report a 22% increase in daily revenue for the first 21 days of Q4/2014, marginally above the level reported so far this year, and up over 2% on Q3/14.

The company highlighted a busy quarter that included the launch of casino and live on SkyBet, Gazzabet Sport for RCS Media in Italy, live for RAY, and the Trinity Mirror white label.

The acquisition of Aristocrat Lotteries and a 33% stake in BGO for 10 million strengthens the company's capabilities in the lottery and game development sectors.

Mor Weizer, Playtech's Chief Executive Officer, commented: The strong growth seen through the first half continued through the third quarter resulting in the strongest-ever quarterly performance, driven by our flagship casino, including mobile and Live, sport betting, land-based revenue and services.

Looking ahead, the management team is confident of exceeding current market expectations for the full year.


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