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Playtech 2008 full year Report

The chairman of online gambling software provider Playtech plc, Roger Withers, reported on the company's progress to investors at the annual general meeting this week, flagging a financial performance for the year ended 31 December 2008 that showed significant growth as revenues rose by 70 percent to Euro 111.5 million, whilst adjusted net profit before tax rose by 54 percent to Euro 40.5 million. The Board recommended the payment of a final dividend of Euro 7.6 cents per share, which follows an interim dividend payment of Euro 7.6 cents per share, making a total dividend of Euro 15.2 cents per share.
 
Withers noted that the group's most significant achievement during the year was the successful completion of a private placement in June 2008, which raised GBP 112 million and underlined the confidence of investors in the company. The proceeds were used to undertake a transformational transaction with William Hill Online, which involved Playtech's acquisition of certain online gaming marketing assets, businesses and contracts from affiliates and other third parties for a total consideration of up to $250 million in cash and the immediate injection of those assets into a new joint venture with William Hill in return for a 29 percent interest in William Hill Online.
 
During the year, Playtech's enteded the newly regulated Italian market. Four of the group's 16 new licensees were derived from this major development, and regulated markets remain an important target for Playtech's expansionary ambitions in 2009.
 
Withers announced quarter one reslts (see below), saying that the venture with William Hill Online is performing well and in line with expectations. Current trading for April 2009 was positive, where on an average daily basis, gross income improved by over 5 percent compared with the daily average over the whole of Q1 2009.
 
"The Company maintains a strong pipeline of new licensees in various jurisdictions, with a strong focus on regulated markets, presenting exciting new business opportunities ahead in 2009," said Withers. "Despite the challenging economic environment, the board remains comfortable with market expectations for the full year."



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US$30M DUBAI WORLD CUP - Racecourse Media Group and Meydan to showcase world’s richest raceday to more than 150 territories The Dubai World Cup is the first horse race to be broadcast live on airlines and cruise lines

NHL Odds: Forsberg Faces Elliott in Nashville - The last time the Nashville Predators played against the Calgary Flames, Calgary had a 4-1 lead five minutes into the second period. Nashville responded with four back-to-back goals, including a hat trick from centreman Filip Forsberg. Both teams went into overtime with five goals, and Calgary defenseman Mark Giordano (12 goals, 22 assists) scored the winning goal.

Sit & Go 2.0 launched online exclusively at Americas Cardroom - Get ready to cheer like a champion before the first flop is even dealt. The much-anticipated Sit & Go 2.0 is now launched online exclusively at Americas Cardroom and Sit & Go players are reaping the benefits of the next evolution of poker.

NBA Odds: Hawks, Wiz in Southeast Showdown - The Washington Wizards (42-27 SU, 36-32-1 ATS) can pretty much secure the Southeast Division title with a win Wednesday night over the Atlanta Hawks (37-32 SU, 31-38 ATS). Tip-off is at 8 PM ET on ESPN; the Wizards lead Atlanta by five games with less than a month remaining before the playoffs.

Mega Moolah progressive jackpot Hit Again - Microgaming’s Mega Moolah progressive jackpot slot has been hit yet again at just over €6.6 million!

NBA Odds: Clippers Try to Slow Down Bucks in LA - Milwaukee Bucks small forward Giannis Antetokounmpo and Los Angeles Clippers power forward Blake Griffin are two of the most talented and versatile forwards in the NBA. The two lead their teams into battle on Wednesday in Los Angeles.

NCAAB Odds: SMU Hosts Tulsa With AAC Title on the Line - There aren’t too many college basketball teams more profitable than the SMU Mustangs (25-4 SU, 18-5-1 ATS). They host the Tulsa Golden Hurricane (14-14 SU, 15-12 ATS) this Thursday night, tipping off at 8 PM ET on CBSSN.

NHL Odds: Canadiens Welcome Islanders Tonight - The Montreal Canadiens (32-20-8) welcome the New York Islanders (28-21-10) on Thursday (7:30 PM ET on SNE). After getting their first victory under new head coach Claude Julien, the Canadiens will look to build on that momentum against a red-hot Islanders team.

NHL Odds: Reeling Flyers Seek Relief in Pittsburgh - #nhl The Philadelphia Flyers have been a bit off since the holidays. They’ve won just eight games since the Christmas break, and now they’ve got a tough one coming up this Saturday night against the Pittsburgh Penguins.

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