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Playtech Releases Third Quarter 2013 Financials

Internet wagering software developer Playtech plc has announced the released its latest round of financial results, noting an increase in revenues and strong growth in a variety of areas.

Key financial indicators for the period ending September 30th, 2013 were:

  • Total revenues up 16% to €90.6 million (Q3-2012: €79.9 million)

  • Casino revenues up 24% to €46.8 million (€38.5 million)

  • Services (including Poker Strategy) up 7% at €28.5% (€26.9%)

  • Bingo slightly down at €4.2 million (€4.4 million)

  • Sports betting delivered a strong result, up 39% at €3.4 million (€2.6 million)

  • Poker down significantly by 21% to €3.2 million (€4.1 million)

  • Videobet revenues stable at €2.9 million.

  • Cash on hand as at September 30 was a healthy €523.2 million.

Company highlights during the third quarter were:

  • Acquisition of PokerStrategy

  • Ladbrokes launched Vegas tab in July

  • Bet365 launched mobile LIVE on HTML5 in September

  • First launch of HTML5 mobile poker in September with two licensees

  • Mobile poker native iOS application approved by the French App store

  • Currently, the business geographical split is Europe 64%; Asia 25% and rest of the world 11%.

Speaking about his company's performance, Playtech CEO Mor Weizer said, “Playtech has continued its growth through the third quarter and the management team is confident of achieving market expectations for the full year and beyond.”