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Playtech Q3 2013 Earnings Report
Tuesday October 29,2013 : CONTINUED STRONG PERFORMANCE FROM PLAYTECH IN Q3-2013
Revenues rise 16 percent, boosted by strong online casino and sports betting performance.
The Isle of Man-based online gambling provider Playtech plc has posted another set of strong quarterly performance results, reporting that group revenues rose 16 percent, boosted by a 24 percent rise in casino returns and growing sports betting success.
Reporting on performance in the three months ended September 30, the company highlighted the following quarter-on-quarter revenue stats:
* Total revenues up 16 percent to Euro 90.6 million (Q3-2012: Euro 79.9 million)
* Casino revenues up 24 percent to Euro 46.8 million (Euro 38.5 million)
* Services (including Poker Strategy) up 7 percent at Euro 28.5 percent (Euro 26.9 percent)
* Bingo slightly down at Euro 4.2 million (Euro 4.4 million)
* Sports betting delivered a strong result, up 39 percent at Euro 3.4 million (Euro 2.6 million)
* Poker down significantly by 21 percent to Euro 3.2 million (Euro 4.1 million)
* Videobet revenues stable at Euro 2.9 million.
* Cash on hand as at September 30 was a healthy Euro 523.2 million.
Issuing a trading update Tuesday, Management advised that average daily revenue for the first 27 days of Q4-2013 is up over 12 percent on Q4-2012 and up over 5 percent on Q3-2013.
Operational highlights included:
* Acquisition of PokerStrategy
* Ladbrokes launched Vegas tab in July
* Bet365 launched mobile LIVE on HTML5 in September
* First launch of HTML5 mobile poker in September with two licensees
* Mobile poker native iOS application approved by the French App store
* Currently, the business geographical split is Europe 64 percent; Asia 25 percent and rest of the world 11 percent.
Mor Weizer, Playtech's chief executive officer, commented:
“Playtech has continued its growth through the third quarter and the management team is confident of achieving market expectations for the full year and beyond.”
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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