Playtech's Sterling Fourth Quarter
Most organizations worldwide are reporting a downturn in profits, resulting from the worldwide economic crisis. However, gambling software company Playtech has shown signs they still have strong earning potential that despite the crisis.
Figures released by Playtech show a significant €31.5 million in total revenues for the fourth quarter of 2008. This represents a 52% increase in overall revenue compared to the fourth quarter of 2007. Both the poker and casino sectors showed steady growth.
Real growth for the company has come out of the Asia-Pacific market, with a rise in 141% in total revenues for the quarter, representing 28% of overall revenue for the company. Additionally, Playtech’s penetration into the Italian poker market has shown to be a successful move with strong revenue growth that was above what had been forecast. This is expected to grow into 2009.
Indeed, Playtech will look to capitalize on another area of key growth. Following the purchase of assets in January, William Hill Online has been launched into the casino, poker and other products using Playtech’s advanced software.
Mor Weizer, CEO of Playtech commented: "Once again we have enjoyed a successful quarter… as we continue to grow the business…We are particularly pleased with... the integration of the William Hill joint venture… which bodes well for this important strategic Company development. The Company has met management's demanding expectations and… will meet its targets for the…year."
