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Playtech Boasts Strong Second Quarter

Online gambling company Playtech today announced its second quarter company results and seem to be quite pleased with the strong performance of their company in that time period.

Playtech Chief Executive boasted the company's strong performance in quarter two, saying, "It has been a very positive quarter for Playtech, continuing a solid start to 2011 and included both the finalisation of Videobet's UK roll-out and the completion of the PTTS acquisition.

"Major licensee wins were announced, including the significant win of COPA in California; and today we have also announced the signing of a significant contract with Gala Coral to provide its online technology platform across all channels. We were first in the market to launch casino and cash poker tables in Italy this week, including SNAI and SISAL as well as other existing and new licensees, and welcomed both William Hill Online and Titan into the Italian network.

"In addition, we have positioned ourselves to offer a platform for the rapidly growing mobile sportsbook segment, through the acquisition of Mobenga announced today. This is a strategic acquisition given the importance of mobile and the accelerated penetration rates of mobile.

"These developments reflect the success of our ongoing investment in the business and many months of intense preparatory work. Each is set to enhance our future regulated market income stream and the licensee pipeline remains strong across the product range. We would expect to announce further wins in the coming months.

"Revenues and player activity have grown throughout the quarter and while we are moving into what is traditionally the quietest seasonal period, we are pleased with Playtech's core business and the newly acquired PTTS, which has shown good resilience and is performing in line with our expectations."

Financial highlights from the company showed that the company's total revenues were up 19% year over year from 2010 and up 8% from Q1-2011, casino revenues were up 24% year to year standing at €27.3 million and up 7% from Q1-2011. Poker revenues were down 24% year over year standing at €5.0 million and down 12% from Q1-2011.

Overall revenues were up 7% year over year, and 8% higher than Q1-2011, bingo revenues were up 32% year over year and up 5% from Q1-2011. Videobet revenues came to realization for the first time in the second quarter and stood at €2.0 million.

Operationally, Playtech boasted highlights such as:

  • Videobet's UK launch, with 20,750 machines featuring it so far
  • PTTS acquisition completed
  • Completed a software agreement with Californian Online Poker Association
  • Signed a contract with Gala Coral to provide broad technology platform
  • Acquiring mobile sportsbook provider Mobenga AB
  • Approval in Malta for live games
  • Soft launch of Casino Gran Madrid
  • Preparing for Italian pay casino and poker games
  • Recognized as having the "Best Bingo Software" and "Best RNG Casino" in the 2011 B2B industry awards
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