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PLAYTECH RELEASES POSITIVE Q2/2010 TRADING UPDATE

Internet gambling software development group Playtech plc has released a trading update covering the three months ened June 30 2010.
 
Financial highlights in the report include:
 
* Gross income for the quarter totalled Euro 44.5 million, up 34 percent on Q2/09 and 2 percent ahead of Q1/10
 
* Total revenues up 32% on Q2/09 and 2% on Q1/10 to €36.8 million
 
* Casino revenues up 34 percent on Q2/09 to Euro 24.9 million, 3 percent higher than Q1/10
 
* Poker revenues down 13 percent on Q2/09 to Euro 7.3 million and 15 percent lower than Q2/10, owing to the impact of the Football World Cup and 'slow' summer seasonality effect
 
* Bingo revenues totalled Euro 2.8 million, 61 percent up on Q1/10, reflecting increasing the contribution from recently acquired Virtue Fusion
 
* Share of profit in William Hill Online of Euro 7.6 million, up 43 percent on Q2/09 and up 4 percent from Q1/10
 
* H1 2010 EBITDA expected to be not less than  Euro 53 million.
 
Management reports that daily activity for first the 26 days of Q3/10 is more than 10 percent ahead of Q3/09 on an absolute basis and more than 20 percent ahead of Q3/09 on a like for like basis, excluding France.
 
Activity declined by 12 percent compared to Q2/10 on the same like for like basis reflecting the combined impact of the closing stages of the football World Cup and normal seasonal slowdown. On an absolute basis, including France, Q3/10 is 19 percent below the daily average of the previous quarter.
 
Recent initiatives include the launch of a new Italian bingo network with SNAI and Eurobet, two of Italy's leading gaming companies, which will be joined by additional members in the near future.
 
Operational highlights include:
 
* Italian Bingo commenced with Sisal which gained 18 percent market share in May. 
 
* The company won the contract for Finland's RAY in May, and launch preparations are reportedly going well for a launch in Q4
 
* Playtech launched its dedicated French poker network launched with a number of well-established local operators, and it is anticipated that further licensees will join in Q3.
 
* Recent acquisitions Virtue Fusion and GTS are performing ahead of expectations after a good Football World Cup, with new licensees and games launched
 
* The Videobet UK roll-out is on track with large shop-tests progressing well.
 
Commenting on the key performance indicators, Playtech's chief executive, Mor Weizer, said: "The second quarter's performance continues our strong start for the year and provides a solid base for the full year. Operationally we are well positioned with significant licensee wins such as RAY in Finland and the launch of our new Italian bingo and French poker networks bringing a broad range of well recognised local operators. 
 
"I am pleased by the continuing growth of Virtue Fusion and GTS and together they will help to mitigate the closure of the French casino market which will be felt in the second half of the year." 
 
"The decline in current trading is in line with our expectations with sportsbook operators focusing on World Cup betting during the period, and is not anticipated to be a useful indicator of performance throughout Q3. We continue to see significant growth opportunities over the near and medium term."



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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