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Good 3rd Quarter for Playtech

10/21/09 - The online gambling software developer Playtech plc has issued a trading update predicting that it expects to deliver a generally positive third quarter 2009, with a 12 percent rise in gross income to Euro 31.9 million.
 
The revenues were down from the Euro 33.1 million reported in the previous three months, which Playtech attributed to a run of "unusual sport results" reducing the sport betting margins of online partner William Hill Online. 

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The firm said the fourth quarter trading period has started well, however.
 
Analysts opined that the firm's third-quarter earnings were ahead of expectations, as a strong margin offset revenue which was slightly behind expectations.
 
"Overall, this is a solid set of figures, with margin outperformance and strong current trading firmly underpinning our estimates," brokers Daniel Stewart told clients in a note this morning.
 
Revenue was broadly flat on the year at Euro 27.7 million with a 10 percent drop in online casino sales to Euro 18.5 million and poker revenues declining around 3 percent to Euro 8.2 million.
 
A company spokesman said activity improved toward the end of the third quarter and initial trading in October is strong, with daily average royalty revenue more than 5 percent ahead of the third quarter.
 
Over the course of the nine months to September 30, gross income rose 24 percent on the same period in 2008 to Euro 98.8 million from Euro 80 million. Gross income is income from royalties plus profits generated from Playtech's share in William Hill Online.
 
William Hill Online contributed Euro 4.2 million of the Euro 31.9 million gross income for Q3, a decline from the Euro 5.3 million in the prior quarter.
 
Commenting on the numbers, Playtech CEO Mor Weizer said: “The is a solid set of numbers. Playtech has delivered and the underlying performance has been strong, with an uplift at the end of September which is continuing this month.
 
“For the first time we are exposed to sports and that is more volatile than gaming, but there are many upsides.  The joint venture is going very well, and we are already seeing a much higher number of new accounts and the gaming activity is in line with expectations.”
 
Weizer struck a positive note on the Internet poker sector, which he opined still has good potential for growth as countries like France, Italy and Serbia develop regulatory systems in which Playtech stands to prosper.
 
EBITDA for the nine months to September is expected to come in at no less than Euro 66 million. 



Gambling News :

Live Dealer Now At Slotocash - Live Dealer can be found in the left navigation menu under 'Live Dealer' when you, the player is logged in to instant play.

Advantages of online slots over slot machines - The rise of online casinos means that players no longer have to leave their own house to play casino games.

Betradar Launches US Sports Betting Solutions - With only a few weeks to go until the betting and gambling world descends on ICE in London, Betradar have today announced that they will be launching a comprehensive range of tools and services to any company that will be looking to provide sports betting in a post-PASPA United States.

Abdelaouhab Zizi Wins MPNPT Morocco Main Event - Abdelaouhab Zizi has defeated fellow Casablanca resident Fadhil Farag heads up to win the 2018 MPN Poker Tour Morocco Main Event and MAD 375,000 (c. €33,220) after a two-way deal.

Final 12 For MPNPT Morocco - Sunday on the MPN Poker Tour Morocco will see several trophies awarded at the Mazagan Beach Resort, with the largest going to the Main Event champion along with a prize of MAD 400,000 (c.€35,400).

MPNPT Morocco Updates - Leading the 104 combined survivors from both flights is still Said El-Yousfi with 272,000 chips; visit the MPN Poker Tour blog for an end-of-day recap and full chip counts.

MPN Poker Tour Morocco Day 1A - The MPN Poker Tour has returned to Morocco this week (January 11-14), featuring the MAD 1.5 million guaranteed Main Event, accompanying side events, and the activities and parties for which this tour has now become known on two continents.

2018 MPN Poker Classic - The MPN announces the return of The Classic tournament series this January. The series is back following its successful €350,000 guaranteed debut in 2017. This time €500,000 is guaranteed, along with a once in a lifetime trip to Monaco for the Classic Champion.

PDC and Sportradar Renew Deal - Following this month’s hugely successful World Championship, the Professional Darts Corporation (PDC) and long-standing partners Sportradar have renewed their multi-faceted cooperation that will see the leader in sports data and content continuing in their role as official data

Poker Yaar Joins MPN - Available through download, instant play and mobile, Pokeryaar.com is live with Omaha, Hold’em and Five-Card poker variants, alongside MPN’s Fish Party, the industry’s only progressive jackpot SNGs.

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