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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.
- 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
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.
- 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".
Danske Spil Bingo Moves to Microgaming -
The national lottery of Denmark, Danske Spil, is live on the Microgaming Bingo Network. Danske Spil, the Danish national lottery, is live on the Microgaming Bingo Network following a change to its licence conditions.
Quickfire live on Strendus -
Quickfire powered by Microgaming is extending its reach in the LatAm region with the signing of Strendus. Strendus is the online division of Logrand Entertainment Group. The group comprises several companies that operate gaming and entertainment establishments in Mexico, running 14 land-based casinos in total.
Quickfire content live on BetatHome -
Online gaming and sports betting company bet-at-home was founded in 1999. Today the company has 4.8 million registered customers around the world, offering sports betting, casino, live casino, Vegas games, poker and virtual sports.
Microgaming has donated £30,000 between four charities -
Gift of Giving provides Microgamingís customers the opportunity to vote for one of several charities in their region. In lieu of Christmas gifts, £30,000 is split equally between four global regions: Isle of Man, UK and Europe, Africa, and Rest of the World.
Entertainment Betting Odds: 90th Academy Awards -
The Shape of Water leads Sundayís 90th Academy Awards (8 PM ET, ABC) with 13 Oscar nominations, but when it comes to Best Picture, this highly-acclaimed film is a +140 second-favorite behind Three Billboards Outside Ebbing, Missouri at Ė115.
Fair Play Bets and QuickFire in Deal -
Fair Play Bets enjoys an unrivalled reputation for an outstanding player experience, with secure deposits and withdrawals, surprising casino bonuses and committed customer support. Fair Play Bets is licensed in UK, Malta and Curacao.
Cavaliers Aim to Take Down Wizards on 2/22/18 -
The Cleveland Cavaliers have looked like a different team since making their moves at the trade deadline. The Washington Wizards are up next for the Cavaliers, who will be at home after the All-Star break.
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