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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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US$30M DUBAI WORLD CUP - Racecourse Media Group and Meydan to showcase world’s richest raceday to more than 150 territories The Dubai World Cup is the first horse race to be broadcast live on airlines and cruise lines

NHL Odds: Forsberg Faces Elliott in Nashville - The last time the Nashville Predators played against the Calgary Flames, Calgary had a 4-1 lead five minutes into the second period. Nashville responded with four back-to-back goals, including a hat trick from centreman Filip Forsberg. Both teams went into overtime with five goals, and Calgary defenseman Mark Giordano (12 goals, 22 assists) scored the winning goal.

Sit & Go 2.0 launched online exclusively at Americas Cardroom - Get ready to cheer like a champion before the first flop is even dealt. The much-anticipated Sit & Go 2.0 is now launched online exclusively at Americas Cardroom and Sit & Go players are reaping the benefits of the next evolution of poker.

NBA Odds: Hawks, Wiz in Southeast Showdown - The Washington Wizards (42-27 SU, 36-32-1 ATS) can pretty much secure the Southeast Division title with a win Wednesday night over the Atlanta Hawks (37-32 SU, 31-38 ATS). Tip-off is at 8 PM ET on ESPN; the Wizards lead Atlanta by five games with less than a month remaining before the playoffs.

Mega Moolah progressive jackpot Hit Again - Microgaming’s Mega Moolah progressive jackpot slot has been hit yet again at just over €6.6 million!

NBA Odds: Clippers Try to Slow Down Bucks in LA - Milwaukee Bucks small forward Giannis Antetokounmpo and Los Angeles Clippers power forward Blake Griffin are two of the most talented and versatile forwards in the NBA. The two lead their teams into battle on Wednesday in Los Angeles.

NCAAB Odds: SMU Hosts Tulsa With AAC Title on the Line - There aren’t too many college basketball teams more profitable than the SMU Mustangs (25-4 SU, 18-5-1 ATS). They host the Tulsa Golden Hurricane (14-14 SU, 15-12 ATS) this Thursday night, tipping off at 8 PM ET on CBSSN.

NHL Odds: Canadiens Welcome Islanders Tonight - The Montreal Canadiens (32-20-8) welcome the New York Islanders (28-21-10) on Thursday (7:30 PM ET on SNE). After getting their first victory under new head coach Claude Julien, the Canadiens will look to build on that momentum against a red-hot Islanders team.

NHL Odds: Reeling Flyers Seek Relief in Pittsburgh - #nhl The Philadelphia Flyers have been a bit off since the holidays. They’ve won just eight games since the Christmas break, and now they’ve got a tough one coming up this Saturday night against the Pittsburgh Penguins.

Dollars to Donuts Slot Launch - Firstly, it's a classically styled, easy playing 3-reel with five pay lines featuring a traditional icon set of bars and sevens.

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