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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.
Danske Spil Bingo Moves to Microgaming -
The national lottery of Denmark, Danske Spil, is live on the Microgaming Bingo Network. Danske Spil, the Danish national lottery, is live on the Microgaming Bingo Network following a change to its licence conditions.
Quickfire live on Strendus -
Quickfire powered by Microgaming is extending its reach in the LatAm region with the signing of Strendus. Strendus is the online division of Logrand Entertainment Group. The group comprises several companies that operate gaming and entertainment establishments in Mexico, running 14 land-based casinos in total.
Quickfire content live on BetatHome -
Online gaming and sports betting company bet-at-home was founded in 1999. Today the company has 4.8 million registered customers around the world, offering sports betting, casino, live casino, Vegas games, poker and virtual sports.
Microgaming has donated £30,000 between four charities -
Gift of Giving provides Microgamingís customers the opportunity to vote for one of several charities in their region. In lieu of Christmas gifts, £30,000 is split equally between four global regions: Isle of Man, UK and Europe, Africa, and Rest of the World.
Entertainment Betting Odds: 90th Academy Awards -
The Shape of Water leads Sundayís 90th Academy Awards (8 PM ET, ABC) with 13 Oscar nominations, but when it comes to Best Picture, this highly-acclaimed film is a +140 second-favorite behind Three Billboards Outside Ebbing, Missouri at Ė115.
Fair Play Bets and QuickFire in Deal -
Fair Play Bets enjoys an unrivalled reputation for an outstanding player experience, with secure deposits and withdrawals, surprising casino bonuses and committed customer support. Fair Play Bets is licensed in UK, Malta and Curacao.
Cavaliers Aim to Take Down Wizards on 2/22/18 -
The Cleveland Cavaliers have looked like a different team since making their moves at the trade deadline. The Washington Wizards are up next for the Cavaliers, who will be at home after the All-Star break.
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