23 May 2010
Bingo News: Playtech Reveals Its First Quarter Revenue Report
The financial report of one of the major software suppliers- Playtech for the first quarter of the year 2010 has been revealed. The report states that the company has had a growth of around 25 per cent during the Q1 as compared to the growth rate witnessed by the company last year during the same time. The report also suggests that Playtech has got overall earnings of £36.1 million on year on year basis.
The company which is listed in the AIM has held its casino brand responsible for the quantum leap from last year the revenue of which has remained at £24.2m after a 27 per cent growth. However, the poker product of the company has seen a dip of 4 per cent on year on year basis to rest at £8.5million.
While the revenue from the William Share Online grew to remain at £7.4m, witnessing an increase of 49 per cent, the newly acquired UK business of Bingo also remained fruitful with total revenue of £1.7m.
Commenting on the quantum growth of the company in the first quarter of the year, Mor Weizer, the chief executive of Playtech said that the revenue of the Q1 reflected substantial growth prospects and is a result of the impressive growth made during the last three months of the year 2009. He revealed that the recent acquisitions of the company- the Virtue Fusion and the Gaming Technology solutions have performed well during the first quarter. He added that the company looks forward to acquire new licenses to venture into new markets in the coming months.
One of the industry analysts, Paul Leyland said that Playtech’s profile looks growth oriented at the moment given that the company has raked in almost 25 per cent growth in the overall revenue compared to the figures attained during the same time of the year in 2009.