Success Story Continues - March 2009
Strong growth in revenues delivers
significant 2008 profit increase. Sportsbook software
19, 2009 (InfoPowa News) -- Releasing its 2008
full-year results this week, online gambling software
developer Playtech has reported a surge in profits,
driven by strong growth in revenues. The company
posted FY profit prior to taxation of €41.45
million, up from Euro 26.83 million over the 2007
advanced 55 percent to €40.69 million from
€26.3 million in FY 2007, with earnings per
share well up at €17.3 cents compared with
€11.7 cents in 2007.
net profit surged 79 percent to €78.6 million
from €43.9 million a year before, with adjusted
earnings per share of €33.4 cents (2007:
revenues soared 70 percent to €111.45 million
(2007: €65.66 million) following strong organic
growth of its existing licensees and the expansion
of its portfolio through additional licensees.
casino revenues totaled €79.4 million, an
increase of 68 percent on 2007's €47.4 million,
and online poker revenues rose by €73 percent
to €30.1 million (2007: €17.4 million).
advised that the first 11 weeks of 2009 had shown
revenues up 2.3 percent on the 2008 average. The
joint venture with the William Hill group was
delivering an average daily income to Playtech
about 40 percent greater than the daily average
income the company generated from its former customer
during the previous quarter.
the group noted that it has finalised the terms
of agreement for Gamenet S.P.A., owned by CRIGA,
to join its standalone Italian online poker network.
remarked that its agreement with William Hill
Online is on course to offer significant benefits
to its earnings in 2009 and further strengthens
group also announced a major, exclusive multi-year
licensing agreement with MGM interactive, Inc.
to use all of its Rocky and Pink Panther motion
picture brands. Playtech will be able to use these
brands across all of its gaming products, including
Internet casino, poker, bingo and on all of its
platforms online, mobile and T.V., as well as
on stand alone and server-based gaming terminals,
CEO Mor Weizer revealed that the company has acquired
sports betting and betting exchange software from
Player2Players. Under the terms of the agreement,
Player2Players' software may be integrated into
Playtech's existing platforms and would be available
to Playtech licensees.
said two notable achievements defined an excellent
year for the company: raising £112 million
in June (see previous report) and the transaction
with William Hill Online than flowed from it.