Playtech announce strong growth over second quarter
Playtech’s second quarter show a large increase in income from last year and a good improvement over the first quarter of this year.
Online gaming software provider Playtech have released their second quarter results and show a 34% increase in gross income from last year and 2% improvement on their first quarter figures.
The company saw their poker revenues decrease by 13% from last year and 15% from the first quarter; this is probably due to the impact of the FIFA World Cup which took place across June and the beginning of July in South Africa.
However, the growth in Playtech’s casino and bingo sector was more than enough to compensate for the drop in poker profits. Casino revenue was up by 34% from last year and 3% more than the first quarter of this year whilst bingo revenue had increased by a huge 61% from the first quarter of this year. The boost in bingo is due to Playtech purchasing bingo supplier Virtue Fusion in February.
Playtech’s Chief Executive Mor Weizer said, “The second quarter’s performance continues our strong start for the year and provides a solid base for the full year. Operationally we are well positioned with significant licensee wins such as RAY in Finland and the launch of our new Italian bingo and French poker networks bringing a broad range of well recognized local operators. I am pleased by the continuing growth of Virtue Fusion and GTS and together they will help to mitigate the closure of the French casino market which will be felt in the second half of the year.”
They also reported that their share of William Hill Online’s profit was up by 43% from the second quarter of last year and up 4% from this year’s first quarter. They have been partnered with William Hill since 2008 and so far it has proved to be very profitable.
