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Playtech Releases Strong Fourth Quarter 2012 Fiscal Results

Internet wagering software giant Playtech plc has released their fourth quarter 2012 fiscal results, noting growth in several major financial categories.

Key financial indicators for the reporting period ending December 31st, 2012 were:

  • Gross income up 26% to €98.8 million (Q4/11: €78.4 million)

  • Total revenues up 20% to €83.9 million (Q4/11: €69.6 million) and 5% higher than the €79.9 million achieved in Q3 -2012

  • Share of profit from William Hill Online (“WHO”) up 71% to €15 million (Q4-2011: €8.8 million)

Compared to the same period of 2012, results showed:

  • Casino revenues up 27% to €41.7 million (Q4-2011: €32.8 million)

  • Services revenues up 17% to €27 million (Q4-2011: €23.1 million)

  • Bingo revenues up 14% to €4.7 million (Q4-2011: €4.1 million)

  • Poker revenues down 27% to €4 million (Q4-2011: €5.5 million)

  • Videobet revenues unchanged at €2.7 million (Q4-2011: €2.7 million)

Full year fiscal results for the company showed:

  • Gross income up 51% to €368.1 million (2011: €243.6 million)

  • Total revenues up 53% to €317.5 million (2011: €207.5 million); an increase of 19% excluding the impact of acquisitions made in the period and the comparable period.

  • Share of profit from WHO up 40% to €50.6 million (2011: €36.1 million)

  • Net cash* as at 31 December 2012 of €51.9 million (31 December 2011: €137.3 million)

  • Net cash defined as cash and cash equivalents less bank borrowings

Company highlights for the fourth quarter were:

  • Gala Coral completed its phased migration, adding its sports betting offering, to Gala Casino and Gala Bingo

  • Playtech’s slot games offering launched in Italy following the introduction of new regulations

  • Betclic and Everest poker products launched on the iPoker.fr and iPoker.com networks

  • Betfair commenced its migration onto the iPoker network with completion planned for July 2013

  • Betfred launched its mobile casino to initially include a selection of 20 table and slot games, aiming for a full mobile offering in 2014

Commenting on his company's performance Playtech CEO Mor Weizer said: “Playtech has again delivered an exceptional fourth quarter performance enhanced by WHO’s record quarterly profit and the significant growth in software revenues, with Casino, Services and Bingo demonstrating double-digit increases.”

“The company achieved robust organic growth and benefited from innovative cross-selling initiatives with several major licensees."

"Playtech’s new product and licensee launches, together with the launch of slots in Italy, have exceeded expectations and build further on the company’s solid growth platform."

“I am also pleased to announce that our joint venture with Gauselmann has been awarded licenses by Schleswig Holstein for online casino and sports betting.”

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