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Good First Quarter Earnings For Playtech

5/5/10 - Investors in the online gambling software provider Playtech will be encouraged by the release of a sterling set of first quarter 2010 results from the company this week.
 
Key Performance Indicators show a strong Q1 performance that appears to be extending into the second quarter.
 
Financial highlights highlights included:
 
* Gross Q1 2010 income totalled Euros 43.4 million, up 29 percent on Q1/2009 and 13 percent ahead of Q4/2009
 
* Total revenues rose 25 percent on Q1/2009 and 19 percent on Q4/2009 to Euros 36.1 million.
 
* Total revenues excluding Virtue Fusion were up 9 percent on Q4/2009
 
Revenues by product showed that online casino revenues grew by 27 percent over Q1/2010 to reach Euros 24.2 million – an increase of 17 percent over revenues in Q4/2009
 
Poker revenues declined by 4 percent compared to Q1/2009 to Euros 8.5 million but showed a slight 2 percent improvement on the Q4/2009 numbers.
 
Bingo revenues in the quarter reached Euros 1.7 million, reflecting the first contribution from February's acquisition of Virtue Fusion, which also contributed revenue to the online casino and other revenue streams.
 
Share of profit in William Hill Online was up 49 percent to Euros 7.4 million compared with Q1/2009, although down by 9 percent on the very strong Q4/2009
 
The company said that an adjusted group EBITDA for the three months ended 31 March 2010 should not be less than Euros 26.5 million
 
Net cash at 31 March 2010 was Euros 55 million, after partial acquisition consideration paid in the quarter, but before payment of full year dividend of approximately Euros 22.7 million.
 
Giving a trading update on business in the first few weeks of the second quarter 2010, Management revealed that daily average royalty revenues in April are running slightly ahead of those experienced during Q1/2010, suggesting an encouraging start to what is normally considered to be a quieter quarter.
 
“We continue to see strong interest in our products and a good pipeline of prospective licensees in regulated and soon-to-be-regulated markets,” the management report noted.
 
Commenting on the KPI's, Playtech's chief executive, Mor Weizer, said: "We have had a very good start the year. Our final numbers for Q1 2010 reflect substantial revenue growth and build on the strong progress made in the last three months of 2009.
 
“Encouragingly we have also seen continued momentum going into the traditionally slower second quarter. Our two recent acquisitions have integrated well and are making excellent progress. I believe Playtech remains well positioned to add licensees in a number of newly regulating markets and can look to the rest of 2010 with confidence."



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NHL Odds: Lone Canadian Team Plays on Friday - “Stingy” is a word that many have used to describe the Ottawa Senators in Round Three. The Sens know that they’re overmatched against a Pens lineup that features the likes of Sidney Crosby, Evengi Malkin and Phil Kessel, but with determined defensive play, Ottawa managed to frustrate the Penguins on their home ice, stealing one of two games.

NBA Odds: Will Cavaliers Be Rusty in Game 1? - The Boston Celtics needed seven games to get past the Washington Wizards, but they got the job done Monday night, winning 115-105 as 5.5-point home favourites. Next up: the defending champion Cleveland Cavaliers, who visit the Garden Wednesday night at 8:30 PM ET on TNT.

4 New Microgaming Releases in May 2017 - Candy Dreams is a 720 ways to win, variable reel game. Players spin on a colorful reel area filled with candy treats, as they play towards enticing bonus triggers.

PKR Company Statement Update - Microgaming can confirm that David R Taylor and Matthew R M Wild of RSM Restructuring Advisory LLP were appointed Joint Administrators of PKR Ltd and PKR Technologies Limited on 11 May 2017 by the High Court, Chancery Division.

Microgaming Wins The Spark Award 2017 - The Spark Award celebrates organisations that experiment with ways of working differently. Previous winners include GCHQ and Places for People. It’s a part of Spark the Change, a global movement dedicated to empowering people and building happier workplaces.

NHL Predators First Ever Conference Finals Appearance - With three of the team’s top four point scorers residing on the blueline, the Nashville Predators have found a strategy that frustrates even the best in the West. After qualifying as the lowest-seeded Western Conference team, the Predators made quick work of the Chicago Blackhawks (4-0) and St. Louis Blues (4-1) in the first two rounds.

NBA Odds: Wizards-Celtics at the Garden - The Washington Wizards are making this a series. They’ve won back-to-back games against the Boston Celtics to knot this second-round matchup at 2-2 with Game 5 at the Garden on Wednesday. TNT has the coverage starting at 8 PM ET.

A Night With Cleo Pays $180K Progressive Jackpot - We’d like to give a shout out to Juan S. from Texas for joining Bovada on a high note on Thursday May 4.

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