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Exceptional Year of Growth For Playtech

Wednesday May 8,2013 :  PLAYTECH CHAIRMAN HIGHLIGHTS ANOTHER YEAR OF EXCEPTIONAL GROWTH
 
Company has passed some of its most significant milestones to date, says Withers.
 
Addressing the Playtech plc agm Wednesday, chairman Roger Withers said that the group has achieved yet another year of exceptional growth and passed some of its most significant milestones to date.
 
"In 2012, gross income increased by 51 percent to Euro 368.1 million and revenues were up 53 percent to Euro 317.5 million," Withers noted, adding that Adjusted EBITDA grew 49 percent to Euro 186.7 million, including the group's share of profit from the now defunct William Hill Online venture.
 
Investors were given some good news in the chairman's statement: "Given the company's excellent full year results, the Board has recommended a final dividend payment of 15.4 Euro cents which gives a total dividend of 23.2 Euro cents per share for the year," Withers said.
 
During the year, Playtech expanded its product offering, increased its exposure to regulated markets and developed significant strategic partnerships and agreements, the chairman reported.
 
"Playtech's acquisition strategy has proved successful as evidenced by its market-leading position with PTTS and Mobenga generating significant new revenues," he said.
 
"The conclusion of the sale of Playtech's minority stake in William Hill Online and the achievement of consistent double-digit annual growth at WHO demonstrates the significant mutual success Playtech can create through its joint venture activities. The substantial valuation of the company's WHO stake creates a strong platform for growth," Withers said.
 
Turning to Ladbrokes, Withers said that Playtech is delighted to be working with one of the largest and most respected brands in the gaming industry.
 
"The agreement demonstrates the value of PTTS and the diversity of Playtech's business offering [and we are] committed to developing Ladbrokes's digital business," the chairman said.
 
Current trading is going well, with first quarter 2013 delivering continued strong performance results through the six weeks since the end of March, and the group performance in line with management expectations, putting Playtech in a strong position to take advantage of the evolving regulatory landscape.
 
Withers says that the Board and management continue to assess the most effective ways of deploying the proceeds of the WHO stake sale to deliver maximum benefit to the company and its shareholders, including consideration of a capital return to shareholders.
 
"In conclusion, after another year of significant progress, the Board believes Playtech is in a prime position to grow and is well capitalised to take advantage of opportunities from developing global regulations. We remain confident of the company's future prospects and look forward to further progress in 2013 and beyond," Withers concluded.

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Gambling News :

Amaya FY2016 Trading Update - The Montreal-based Amaya online gambling group has issued a trading update covering FY 2016 and improving its forecast revenue and earnings numbers.

Another Mega Fortune Dreams jackpot for Euro 3.5 million - In a statement Friday NetEnt advised that the lucky player is a 62-year-old woman from central Finland who won the seven-figure sum from a Euro 1 stake.

Stanleybet has filed a legal action against the government of Cyprus - Bookmaking firm Stanleybet has filed a legal action against the government of Cyprus, claiming Euro 12.5 million as compensation for what it claims is loss of profits and opportunities, prejudice to image and business reputation and legal costs.

LeoVegas To Sponsor Leicester Tigers - The agreement includes official partner accreditation, media space at Welford Road stadium and matchday tickets and VIP hospitality as well as two pitchside perimeter boards from the 2017/18 season and one for duration of the 2016/17 season.

Optima Information Services iShop - Industry visitors to the recent TVC Bookmakers Trade Fair in Solihull, UK were much taken by Spanish betting technology firm Optima Information Services' iShop product, and the company went on to win the SBC Best Retail Betting Product award with it last month.

Golden Nugget Las Vegas Launches New Betting App - Golden Nugget Las Vegas has unveiled a sports wagering app offering Nevada punters the comfort and convenience of being able to wager from anywhere in the state.

CAGAYAN CHIEF MOVES TO REASSURE LICENSEES - Apparently $4 million is going into improvements of the Authority’s data centre in the Freeport at Cagayan, whilst another $3 million has been earmarked for an upgrade to data infrastructure located outside the Freeport.

New Massachusetts Online Gambling Bill - It seems that every two years (give or take a few months) Massachusetts state Senator Bruce Tarr flights an online gambling legalization bill in the state Senate.

Las Vegas Sands Fined for foreign bribery allegations - #lasvegassands Las Vegas Sands, the land casino company owned by multi-billionaire US mogul Sheldon Adelson, has again had to cough up a stiff penalty for non-compliance with the law.

Libratus AI Program Destroying Human Poker Opponents - #Libratus With 40,340 hands played (about a third of the 120,000 planned) Dong Kim is down $29,506, whilst Jimmy Chou ($113,7728), Daniel McAuley ($141,877) and Jason Les ($186,489) are all carrying losses.

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