Profits Rise for Online Casino Software Provider

March 18, 2010 | News Category: Casino Software

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Playtech, the well known online casino software provider, has released their financial report for 2009. The company has continued to keep their profits up and look to be continuing this upward trend in the first quarter of 2010 too.

The company entered into some lucrative licensing agreements in 2009. One of these agreements was the completion of the integration of William Hill Online towards the end of last year, in October.

Playtech also acquired GTS at the end of 2009 in December, which added to their profitability. Playtech's trend of acquiring other companies extending into 2010, when the online casino software company acquired Virtue Fusion just last month in February. The acquisition of these two companies puts Playtech in an excellent position as an online gambling software provider for various gaming platforms, including online casino and bingo platforms.

Playtech's gross income went up by 23 percent to 137.3 million Euros, up from 2008's 111.5 million Euros. Playtech recommended a share dividend of 9.4 Euro cents per share that is held, which would make the total of 2009's dividends equal 18.3 Euro cents per share. 2008's share aggregate was 15 Euro cents per share. The dividends were therefore 20.4% higher in 2009 than they were in 2008.

Playtech certainly did a lot of business restructuring in 2009, as well as investing heavily in other companies. The gaming software provider also entered new markets, expanded their games portfolio, and acquired new licensees.

The reason Playtech could enter all these deals and agreements is because they had also been profitable in the past, and were able to capitalize on that. The company's non-executive chairman, Roger Withers, said: "We have made good use of our substantial cash position to make a number of focused acquisitions and investments which should prove highly accretive in the medium to long term."

Mr. Withers continued to explain that " Playtech is a growing profitable business with strong cash flows, high margins and an attractive dividend policy. Playtech continues to outperform the market and the Board looks forward to 2010 and beyond with great confidence."

It seems likely that Playtech will continue this upward trend as 2010 is already on its way to being a good year for the online gaming company.

Roger Withers commented: "This has been another significant year of growth for Playtech. Excellent progress has been made both operationally and strategically."