The Software Provider Registered Great Results

22 August 2012 – By Cristian Dragomir

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Playtech is one of the most popular online gaming software providers in the world. Their success is shown by the financial results for the second quarter of 2012 that have just been released. The company registered a tremendous improvement as compared to the second quarter of 2011 and marginal improvement as compared to the first quarter of 2012. The press release shows that the total revenues across all activities of the company were €78.6 million, which was up 99% as compared to Q2/11 and up 5% on Q1/12.

The online casino segment was by far the best when it comes to financial results. The Q2/12 revenues were €37.1 million, meaning an increase of 36% compared to Q2/11 and up 8% on Q1/12. The bingo revenues were also very good. For Q2/12, the bingo revenues were €4.4 million, which were up 21% on Q2/11 and up 1% on Q1/12. However, not all segments increased. Poker revenues showed a declining trend and therefore the revenues at €4.4 million were down 12% on Q2/11 and down 18% on Q1/12. Playtech’s key subsidiaries and partnerships were also mentioned in their financial results. Videobet revenues were €2.8 million, up 36% on Q2/11 and up 15% on Q1/12. The company’s share of profit in William Hill Online was €9.5 million, which was up 7% on Q2/11 and down 29% from Q1/12.

The operational highlights of Playtech include the recently entering on the regulated Spanish market for many of the leading Playtech licensees, such as Bet365, William Hill and others. The process of migration to the Playtech platform for Gala Coral is progressing as scheduled. Playtech’s mobile casino, developed in collaboration with online casino operator Paddy Power, launched nine games in an integrated mobile solution. During this second quarter, Playtech’s largest bingo network progressive jackpot promotion was completed and delivered £2.5 million in prize money to players.

The company’s CEO said that the first half performance for 2012 had been very encouraging for all products, except for poker, and although the summer months are traditionally weaker, Playtech can maintain the momentum into the rest of the year.

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