Playtech sees 2% growth in second quarter

According to Reuters online gambling software firm Playtech has seen a massive growth of 44.5 million Euros in its income in the second quarter of this year.

This increase in growth income is thanks to the growth in revenues of online casinos and bingo sites, both these markets have considerably expanded and both are at the core of the company’s income, on the other hand, revenues from online poker dropped across the globe.

The 44.5 million Euro growth marked a 2% increase compared to the first quarter of this year. However, third quarter profits are likely to drop due to the 2010 World Cup as many gambling operators announced a significant drop in revenue during the tournament.

However, according to Reuters, trading activity in the first few days of June was still higher than the same period last year, but then went down about 12% around the time of the World Cup and because of gambler’s holidays, both of these factors reduce the amount of time spent gambling online.

Playtech’s partnership with William Hill, which was closed in 2008 also contributes to their income as it saw a huge increase of 7.6 million Euros in share profit

Playtech was founded in 1999 and is now a global company known for providing software for many online gaming sites including casinos, poker rooms, bingo, sports betting, mobile gaming and online arcades. Many companies use Playtech software including some of the leading internet sites and world famous brands.

In 2004 Playtech launched their iPoker network integrating casinos and poker rooms across the web and it soon grew to be the biggest online gaming network.