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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 :

Box 24 Launches 3 New Slots - This week sees the addition of 3 New Games at Box24 Casino. Check them out they all seem pretty interesting.

Oink Country Love Slot Launches - Oink Country Love will have players tapping their feet to the country beat with the lovable Oink Bros, Willy and Chancho, who are trying to win over the heart of Miss Southern Charm in this five by three reel, 45-line online slot.

Tim Chung Wins MPNPT Manchester - The 288-runner £550 MPNPT Manchester Main Event today crowned its champion, awarding the bulk of the £150,000 total prizepool to the nine players surviving after two days of tournament poker at the Grosvenor Casino.

MPNPT Manchester Day 2 - Day 2 of the £550 MPNPT Manchester Main Event saw 60 Day 1 survivors (from a total of 288 entries) and three intrepid last-minute registrants sit down to play to the final table.

Day 1B MPN Poker Tour Manchester - Day 1B of the £550 MPNPT Manchester Main Event saw the field rise to 285, as players took full advantage of the whole-day re-entry period.

Day 1A MPNPT Manchester - The £150,000 guaranteed MPNPT Manchester kicked off today in style – 74 poker players from all over Europe arriving at the Grosvenor Casino to contend the first of two starting days

Kung Fu Rooster Slot Goes Live - Celebrate Chinese New Year - 2017 Year of the Rooster. It's time to sweep away any ill-fortune and make way for incoming good luck, with this exciting 12 lines slot game.

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3 New Betsoft Slots - 3 new Betsoft slot Games were also added this week to most online casinos allowing US players.

2017 Bodog Super Millions Poker Open - The first events on the 105-tournament schedule have already been completed; there are three more tourneys on Thursday’s schedule, with a total of $34,000 in guaranteed prize money waiting to be won.

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