Playtech Reports Record Revenues

January 28, 2009 | News Category: Casino Software

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Playtech have announced its Key Performance Indicators for the fourth quarter of 2008, ending on 31st December. Playtech is one of the leading licensors and developers of software for both the online and land-based gaming industries, and also for the mobile gaming industry. Playtech design and distribute their software on an international level.

The record revenues that were reported for the last quarter of 2008, form part of the whole year's revenue of $144.8 million. Playtech have stated that their final quarter revenues had increased from the same period the year before, in 2007. The increase was a huge 52 percent higher than the previous year, earning the software company $40.9 million in that quarter.

The third quarter of 2008 also showed an increase in revenue as compared to the same period in 2007. While the increase was somewhat lower than the fourth quarter, it was still a substantial eleven percent higher, reaching a total of $36.8 million. The total revenue for Playtech software for last year was therefore up, by around 70 percent, from the 2007 total of $85.3 million.

Playtech's casino revenues for the last quarter of 2008 showed a rise of 52 percent, totaling $28.6 million, as compared to the $18.9 million received in revenue in the last quarter of 2007. Playtech's poker operations showed an increase of 43 percent reaching a total of eleven million dollars, up from the $7.7 million that was reported for the same quarter the year before.

Playtech's share of players' income from European licensees for the last quarter of 2008 had increased by eleven percent, while the share of players' income for their Asia-facing licensees for the last quarter of 2008 had grown by twenty-six percent.

Playtech also announced that they had achieved two important milestones during the fourth quarter of last year. One of these milestones was in connection with finishing the implementation of their deal with William Hill. William Hill, using the Playtech software have launched their casino and poker products successfully.

The second major milestone achieved for the fourth quarter of 2008 is that Playtech successfully entered the regulated Italian poker market at the end of December. Currently, the results being achieved in this market show that the Italian poker network will increase future revenues beyond management's expectations.

The Chief Executive Officer for Playtech, Mor Weizer expressed that Playtech are especially pleased with the progress and smooth integration of the joint venture with William Hill. He said that this venture bodes well for strategic company development.

Mr Weitzer said, "Once again we have enjoyed a successful quarter both operationally and strategically as we continue to grow the business and make the most of opportunities presenting themselves."