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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."



Gambling News :

Live Dealer Now At Slotocash - Live Dealer can be found in the left navigation menu under 'Live Dealer' when you, the player is logged in to instant play.

Advantages of online slots over slot machines - The rise of online casinos means that players no longer have to leave their own house to play casino games.

Betradar Launches US Sports Betting Solutions - With only a few weeks to go until the betting and gambling world descends on ICE in London, Betradar have today announced that they will be launching a comprehensive range of tools and services to any company that will be looking to provide sports betting in a post-PASPA United States.

Abdelaouhab Zizi Wins MPNPT Morocco Main Event - Abdelaouhab Zizi has defeated fellow Casablanca resident Fadhil Farag heads up to win the 2018 MPN Poker Tour Morocco Main Event and MAD 375,000 (c. €33,220) after a two-way deal.

Final 12 For MPNPT Morocco - Sunday on the MPN Poker Tour Morocco will see several trophies awarded at the Mazagan Beach Resort, with the largest going to the Main Event champion along with a prize of MAD 400,000 (c.€35,400).

MPNPT Morocco Updates - Leading the 104 combined survivors from both flights is still Said El-Yousfi with 272,000 chips; visit the MPN Poker Tour blog for an end-of-day recap and full chip counts.

MPN Poker Tour Morocco Day 1A - The MPN Poker Tour has returned to Morocco this week (January 11-14), featuring the MAD 1.5 million guaranteed Main Event, accompanying side events, and the activities and parties for which this tour has now become known on two continents.

2018 MPN Poker Classic - The MPN announces the return of The Classic tournament series this January. The series is back following its successful €350,000 guaranteed debut in 2017. This time €500,000 is guaranteed, along with a once in a lifetime trip to Monaco for the Classic Champion.

PDC and Sportradar Renew Deal - Following this month’s hugely successful World Championship, the Professional Darts Corporation (PDC) and long-standing partners Sportradar have renewed their multi-faceted cooperation that will see the leader in sports data and content continuing in their role as official data

Poker Yaar Joins MPN - Available through download, instant play and mobile, Pokeryaar.com is live with Omaha, Hold’em and Five-Card poker variants, alongside MPN’s Fish Party, the industry’s only progressive jackpot SNGs.

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