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PLAYTECH SCORES POINTS WITH DEUTSCHE BANK ANALYSTS
The Online gambling software developer and provider Playtech plc received a resounding thumbs up from the respected Deutsche Bank business analysts this week, earning the accolade “best play on medium term growth in the online gaming sector” which will no doubt make it an attractive proposition for investors.
The rationale behind the recommendation revolves principally around the AIM-listed company's recent deal giving it 29 percent of William Hill Online, but also takes into account the potential benefits to Europe and Asia facing businesses of the recent attempts by US authorities to curtail the activities of US-facing PokerStars and Full Tilt Poker.
In terms of the WHO deal, Playtech stands to benefit not only from its shares in the UK online gambling giant, but from the fact that its software will be used on the websites of one the largest online gambling operations on the Internet.
Deutsche Bank also notes “...regulatory opportunities and expanding markets as playing a significant part in Playtech’s future growth” such as the possible licensing and regulation of Internet gambling in the United States, currently being pursued in Congress by Masschusetts Representative and chairman of the House Financial Services Committee, Barney Frank.
Commenting that Playtech is not immune from the potential of economic difficulties among some of its licensees, the analysts nevertheless point out that the firm's cash-generative business model and leading position in the industry should continue to drive growth by adding new licensees and cross-selling more products despite the recession.
Growth is likely to be more concentrated in the second half of 2009, the bank said, but looking further ahead it commented: “....the pipeline of new licensees and product developments leads us to be positive on the medium term trading outlook as well.”
It is likely that Playtech will seek a more senior listing than its current AIM status by moving up to the main London market at some stage over the next 6 to 12 months, the bank predicted.
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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