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Strong Playtech Earnings
Releasing its 2008 full year results this week, online gambling software developer Playtech has reported a surge in profits, driven by strong growth in revenues. The company posted FY profit prior to taxation of Euro 41.45 million, up from Euro 26.83 million over the 2007 corresponding period.
Profit advanced 55 percent to Euro 40.69 million from Euro 26.3 million in FY 2007, with earnings per share well up at Euro 17.3 cents compared with Euro 11.7 cents in 2007.
Adjusted net profit surged 79 percent to Euro 78.6 million from Euro 43.9 million a year before, with adjusted earnings per share of Euro 33.4 cents (2007: Euro 19.5 cents).
Annual revenues soared 70 percent to Euro 111.45 million (2007: Euro 65.66 million) following strong organic growth of its existing licensees and the expansion of its portfolio through additional licensees.
Online casino revenues totaled Euro 79.4 million, an increase of 68 percent on 2007's Euro 47.4 million, and online poker revenues rose by Euro 73 percent to Euro 30.1 million (2007: Euro 17.4 million).
Management advised that the first 11 weeks of 2009 had shown revenues up 2.3 percent on the 2008 average. The joint venture with the William Hill group was delivering an average daily income to Playtech about 40 percent greater than the daily average income the company generated from its former customer during the previous quarter.
Additionally, the group noted that it has finalised the terms of agreement for Gamenet S.P.A., owned by CRIGA, to join its standalone Italian online poker network.
Playtech remarked that its agreement with William Hill Online is on course to offer significant benefits to its earnings in 2009 and further strengthens its position.
The group also announced a major, exclusive multi-year licensing agreement with MGM interactive, Inc. to use all of its Rocky and Pink Panther motion picture brands. Playtech will be able to use these brands across all of its gaming products, including Internet casino, poker, bingo and on all of its platforms online, mobile and T.V., as well as on stand alone and server-based gaming terminals, via Videobet.
Playtech CEO Mor Weizer revealed that the company has acquired sports betting and betting exchange software from Player2Players. Under the terms of the agreement, Player2Players' software may be integrated into Playtech's existing platforms and would be available to Playtech licensees.
Weizer said two notable achievements defined an excellent year for the company: raising GBP 112 million in June and the transaction with William Hill Online than flowed from it.
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$400k Winner at Bodog Casino -
To win, you need to get a pair of Tens or better. Jerry K., however, got a much higher hand than the minimum; he pocketed $397,879 after landing the game’s best possible hand: a royal flush.
NBA : Warriors Win the West; NBA Finals Next -
The Golden State Warriors will play in their third-straight NBA Finals. They completed their sweep of the San Antonio Spurs Monday night, rolling to a 129-115 victory as 12-point road favourites; Golden State opened the season as a –250 chalk to win the Western Conference.
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NHL Odds: Lone Canadian Team Plays on Friday -
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NBA Odds: Will Cavaliers Be Rusty in Game 1? -
The Boston Celtics needed seven games to get past the Washington Wizards, but they got the job done Monday night, winning 115-105 as 5.5-point home favourites. Next up: the defending champion Cleveland Cavaliers, who visit the Garden Wednesday night at 8:30 PM ET on TNT.
4 New Microgaming Releases in May 2017 -
Candy Dreams is a 720 ways to win, variable reel game. Players spin on a colorful reel area filled with candy treats, as they play towards enticing bonus triggers.
PKR Company Statement Update -
Microgaming can confirm that David R Taylor and Matthew R M Wild of RSM Restructuring Advisory LLP were appointed Joint Administrators of PKR Ltd and PKR Technologies Limited on 11 May 2017 by the High Court, Chancery Division.
Microgaming Wins The Spark Award 2017 -
The Spark Award celebrates organisations that experiment with ways of working differently. Previous winners include GCHQ and Places for People. It’s a part of Spark the Change, a global movement dedicated to empowering people and building happier workplaces.
NHL Predators First Ever Conference Finals Appearance -
With three of the team’s top four point scorers residing on the blueline, the Nashville Predators have found a strategy that frustrates even the best in the West. After qualifying as the lowest-seeded Western Conference team, the Predators made quick work of the Chicago Blackhawks (4-0) and St. Louis Blues (4-1) in the first two rounds.
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