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PLAYTECH REPORTS ROBUST PERFORMANCE IN Q4/2010

Posted 1/24/11 : The company looks forward to 2011 with confidence as another year of significant development
 
Isle of Man-based gaming software developer and licensor Playtech delivered its key performance indicators for the fourth quarter ending 31 December 2010.
 
 
Financial highlights:
 
-  Gross income up 26 percent to Euro 173.1 million for the 12 months to 31 December 2010, (2009: Euro 137.3 million)
 
-  Gross income for Q4/2010 up 14 percent to Euro 43.9 million, (Q4/2009: Euro 38.5 million) reflecting strong growth in activity and an encouraging performance across all product groups
 
-  Total revenues for the 12 months to 31 December 2010 up 24 percent to Euro 142.3 million, (2009: Euro 114.8 million)
 
-  Total revenues during Q4/2010 up 21 percent to Euro 36.9 million, (Q4/2009: Euro 30.4 million) and 13 percent higher than the Euro 32.5 million achieved in Q3/2010
 
-  Quarter-on-quarter revenue performance: Casino revenues up 20 percent to Euro 25.9 million, Poker revenues up 3 percent to Euro 5.9 million and Bingo revenues up 9 percent to Euro 3.3 million
 
-  Share of profit from William Hill Online (WHO) up 37 percent to Euro 30.8 million for the full year (2009: Euro 22.5 million), including Euro 7.0 million in Q4/2010
 
-  Cash balances at 31 December 2010 in excess of Euro 68 million, before payment of final consideration in relation to WHO of Euro 15.1 million
 
 
Trading update:
 
The company reported daily activity in the first three weeks of January 2011 is over 11 percent ahead of January 2010 and over 1 percent above the average of Q4/2010, with all products performing positively.
 
 
Operational highlights:
 
-  RAY (Finnish poker and casino), successfully launched 29 November, achieved 60,000 registered players by 21st December 2010
 
-  Further licensees launched in Q4/2010 included: Unibet (bingo) and Codere (Italian bingo)
 
-  Additional product launches for existing licensees included: bet365 (games tab content) and Titan (French poker); Tain (Casino) due shortly.  Discussions on additional products with various existing licensees underway
 
-  New license agreements announced for regulated markets included: Buongiorno (Italian casino) and Nordic Bet (bingo)
 
-  Videobet FOBT roll-out progressing well in UK, moving to mass deployment phase
 
 
Playtech Chief Executive, Mor Weizer commented:
 
"Playtech's business has increased in all areas, delivering a very robust fourth quarter performance. Growth from our existing business, when combined with the new licensees either just launched, or due to launch shortly, gives us a solid platform for 2011. As a result, the Board is comfortable with market expectations for the year ended 31 December 2010 and looks forward to 2011 with confidence as another year of significant development.
 
Today we have also announced the acquisition of IGS, (see previous InfoPowa reports) a developer of casino management systems for an initial GBP 2.5 million cash consideration. We see this deal as furthering what is already Playtech's unique competitive advantage and cross platform capabilities as the trend of convergence of land based and online segments continues".

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Gambling News :

Amaya FY2016 Trading Update - The Montreal-based Amaya online gambling group has issued a trading update covering FY 2016 and improving its forecast revenue and earnings numbers.

Another Mega Fortune Dreams jackpot for Euro 3.5 million - In a statement Friday NetEnt advised that the lucky player is a 62-year-old woman from central Finland who won the seven-figure sum from a Euro 1 stake.

Stanleybet has filed a legal action against the government of Cyprus - Bookmaking firm Stanleybet has filed a legal action against the government of Cyprus, claiming Euro 12.5 million as compensation for what it claims is loss of profits and opportunities, prejudice to image and business reputation and legal costs.

LeoVegas To Sponsor Leicester Tigers - The agreement includes official partner accreditation, media space at Welford Road stadium and matchday tickets and VIP hospitality as well as two pitchside perimeter boards from the 2017/18 season and one for duration of the 2016/17 season.

Optima Information Services iShop - Industry visitors to the recent TVC Bookmakers Trade Fair in Solihull, UK were much taken by Spanish betting technology firm Optima Information Services' iShop product, and the company went on to win the SBC Best Retail Betting Product award with it last month.

Golden Nugget Las Vegas Launches New Betting App - Golden Nugget Las Vegas has unveiled a sports wagering app offering Nevada punters the comfort and convenience of being able to wager from anywhere in the state.

CAGAYAN CHIEF MOVES TO REASSURE LICENSEES - Apparently $4 million is going into improvements of the Authority’s data centre in the Freeport at Cagayan, whilst another $3 million has been earmarked for an upgrade to data infrastructure located outside the Freeport.

New Massachusetts Online Gambling Bill - It seems that every two years (give or take a few months) Massachusetts state Senator Bruce Tarr flights an online gambling legalization bill in the state Senate.

Las Vegas Sands Fined for foreign bribery allegations - #lasvegassands Las Vegas Sands, the land casino company owned by multi-billionaire US mogul Sheldon Adelson, has again had to cough up a stiff penalty for non-compliance with the law.

Libratus AI Program Destroying Human Poker Opponents - #Libratus With 40,340 hands played (about a third of the 120,000 planned) Dong Kim is down $29,506, whilst Jimmy Chou ($113,7728), Daniel McAuley ($141,877) and Jason Les ($186,489) are all carrying losses.

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