Playtech Results Show The Business Is Still Strong
Solid increases in revenues
crafted by expansions into Europe and Asia
Online gambling turnkey provider and software developer
Playtech turned in an impressive set of results this week,
almost doubling pre-tax profit numbers.
The company's full year results saw an annual rise in
total revenues of 89 percent to US$90 million (2005:
US$47.6m). Pre-tax profit rose to $60.8 million for the year
ended 31 December from $35.7m in 2005.
Breaking the numbers down, online casino revenues
increased 81 percent to US$77.2 million (2005: US$42.7m),
and Internet poker revenues rose a remarkable 309 percent to
US$10.9 million (2005: US$2.7m).
Excluding US contributions, annual revenues increased 143
percent to US$55.6 million (2005: US$22.8m).
The report hails expansion in Asia and eastern Europe as
an important contributor to the bottom line. The group
offset losses in the USA, where its online gambling
operations were shut down timeously with the advent of new
anti-online gambling legislation, and efforts and resources
were focused on new markets such as Asia.
Playtech also added new products to entice new customers.
"The group's broad international portfolio of clients,
especially in Asia and Europe, meant that the impact of the
prompt withdrawal by its licensees from the US market was
greatly reduced," it said.
"We look forward into 2007 with great enthusiasm and
expect it to be a year of further growth,'' said chief
executive officer Avigur Zmora in a statement.
Playtech - the largest publicly traded online gaming
software provider in the world
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