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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.

SuperSlotsAdjusted 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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MPN Poker Tour Bratislava Results - Alex Hendriks Wins Inaugural MPN Poker Tour Bratislava Main Event and €27,000

MPN Poker Tour Bratislava | Day 2 - It was a hard fight around the bubble, culminating in the elimination of Georgios Drakakis in 46th place. He received a surprise consolation entry into the next MPNPT stop in Sunny Beach, Bulgaria (5-8 July), which softened the blow of missing out on a €900 min-cash.

MPN Poker Tour Bratislava Day 1B - Dorey Captures Chip Lead After MPNPT Bratislava Day 1b Triples 1a Field Size. The second flight of the €550 MPN Poker Tour Bratislava Main Event is in the bag, and so are the chips of 97 players who will be returning along with the 26 Day 1a survivors to fight to the money and beyond today

MPN Poker Tour Bratislava Day 1A - The MPN Poker Tour has arrived in Bratislava for the very first time, bringing with it the Tour’s friendly mix of local and globe-trotting poker enthusiasts, pros and qualifiers to the beautiful Slovakian capital.

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