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Playtech plc has released its Q1-2014 numbers

Wednesday April 30,2014 :  PLAYTECH REPORTS STRONG MOMENTUM IN Q1-2014
 
Online bingo and poker the only underperformers.
 
Online gambling software developer Playtech plc has released its Q1-2014 numbers, showing continued strong momentum with the exception of online bingo and poker, both of which languished.
 
Highlights from the report for the period ended 31 March show:
 
* Online casino revenues up 25.6 percent at Euro 55 million (Q1-2013: Euro 44.1 million)
 
* Services up 12.9 percent at 29.7 million (Q1-2013 Euro 26.3 million)
 
* Online bingo down 16.7 percent at Euro 4 million (Q1-2013: Euro 4.8 million)
 
* Online sports up 21.7 percent at Euro 5.6 million (Q1-2013 Euro 4.6 million)
 
* Online Poker down 13.6 percent at Euro 3.8 million (Q1-2013 Euro 4.4 million)
 
* Land-based activity up 17.4 percent at Euro 2.8 million (Q1-2013 Euro 2.4 million).
 
* Revenues came mainly from Europe (58 percent) and Asia (33 percent).
 
* Cash and cash equivalents of Euro 375.8 million following distribution of GBP 100 million special dividend and GBP 40 million for the establishment of an employee benefit trust.
 
Management says that current trading is delivering average daily revenue for the first 29 days of Q2-2014 up over 15percent on Q2-2013 and in line with the strong Q1-2014 performance.
 
Operational highlights in the quarter include:
 
* Completion of full roll-out of unique multi-channel solution to Coral betting shops
 
* Completion of Ladbrokes's migration to Playtech's full product suite followed by transition to Playtech's IMS as the infrastructure for its entire betting and gaming operations
 
* Significant advances made in mobile products encompassing tablets and smartphones, notably introduction of native applications
 
* Genting selected IGS casino management for all UK casinos
 
* Gala interactive launched in Sweden
 
* Launch of unique tablet user interface with Gala Coral Bingo
 
* New Live Casino product launched including unique features to enrich player experience
 
Mor Weizer, Playtech's chief executive officer, commented:
 
"Playtech has made a strong start to 2014.  The company's diverse licensee base has delivered a robust performance driven by our flagship casino, live casino, sport betting and mobile products.
 
"Over the first quarter we focused on operational progress in key areas that are an inherent part of our growth strategy; improving our casino and live offering, IMS and single wallet and sports betting capabilities. Our leading position in the mobile space has been bolstered by the launch of new products, including a number of innovative games along with poker and bingo designed specifically for tablets and smartphones.
 
"The two most significant achievements of the quarter were the completion of the roll out of our multi-channel solution to Coral retail outlets and the migration of the entire Ladbrokes online gaming offer onto the Playtech platform. This was followed by the significant milestone of Ladbrokes adopting our IMS as the infrastructure for its entire betting and gaming operations.
 
"Looking ahead, the Board remains confident regarding the continuing growth prospects for the company."

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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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