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Playtech Has A Strong Second Quarter Of 2012

Internet wagering software developer Playtech plc has released its second quarter 2012 financial results, highlighting large increases in gross income and revenues.

Key financial indicators for the second quarter ending June 30th, 2012 were:

  • Gross income up 82% to €88.1 million, (Q2-2011: €48.4 million) but flat compared to Q1-2012

  • Total revenues up 99% to €78.6 million, (Q2-2011: €39.6 million) and up 5% on Q1-2012

  • Casino revenues up 36% quarter-on-quarter to €37.1 million, (Q2-2011: €27.3 million) and up 8% on Q1-2012

  • Poker revenues down 12% to €4.4 million, (Q2-2011: €5 million) and down 18% on Q1-2012

  • Bingo revenues up 21% to €4.4 million, (Q2-2011: €3.6 million) and up 1% on Q1-2012

  • Videobet revenues up 36% to €2.8 million, (Q2-2011: €2 million) and up 15% on Q1-2012

  • Services revenues up 4% to €26.8 million on Q1-2012

  • Share of profit in William Hill Online up 7% to €9.5 million, (Q2-2011: €8.8 million) and down 29% from Q1-2012 reflecting strong performance in Q1-2012

  • PTTS purchase completed on 1 July 2011

Commenting on his company's performance, Playtech CEO Mor Weizer said: "First half performance for 2012 has been very encouraging and all products, with the exception of poker, have achieved strong year-on-year growth. I am also particularly pleased that Playtech achieved a Premium Listing on 2 July, which marks the company's exceptional progress since listing on AIM in 2006."

"The services division has delivered a very impressive performance and surpassed the accelerated payment threshold. This uniquely positions Playtech for future strategic revenue streams as markets continue to regulate. Although we anticipate a seasonal slowdown during the traditionally weaker summer months, I believe that the company is well positioned to maintain the momentum into the rest of the year."

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