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Playtech Great Q4 Results

Thursday February 7,2013 : ONLINE GAMBLING FIRM TURNS IN ANOTHER STRONG QUARTERLY PERFORMANCE
 
Playtech's fourth quarter ends a successful year in all but poker
 
Online gambling software provider Playtech plc has released an interim management report on the three months ended December 31 2012, posting a strong Q4 performance to end a successful year.
 
Financial highlights in Q4-2012 included:
 
* Gross income up 26 percent to Euro 98.8 million (Q4/11: Euro 78.4 million)
* Total revenues up 20 percent to Euro 83.9 million (Q4/11: Euro 69.6 million) and 5 percent higher than the Euro79.9 million achieved in Q3 -2012
* Share of profit from William Hill Online (“WHO”) up 71 percent to Euro 15 million (Q4-2011: Euro 8.8 million)
 
Quarter-on-quarter revenue performance included:
 
* Casino revenues up 27 percent to Euro 41.7 million (Q4-2011: Euro 32.8 million)
* Services revenues up 17 percent to Euro 27 million (Q4-2011: Euro 23.1 million)
* Bingo revenues up 14 percent to Euro 4.7 million (Q4-2011: Euro 4.1 million)
* Poker revenues down 27 percent to Euro 4 million (Q4-2011: Euro 5.5 million)
* Videobet revenues unchanged at Euro 2.7 million (Q4-2011: Euro 2.7 million)
 
For the 12 months ended 31 December 2012:
 
* Gross income up 51 percent to Euro 368.1 million (2011: Euro 243.6 million)
* Total revenues up 53 percent to Euro 317.5 million (2011: Euro 207.5 million); an increase of 19 percent excluding the impact of acquisitions made in the period and the comparable period.
* Share of profit from WHO up 40 percent to Euro 50.6 million (2011: Euro 36.1 million)
* Net cash* as at 31 December 2012 of Euro 51.9 million (31 December 2011: Euro 137.3 million)
* Net cash defined as cash and cash equivalents less bank borrowings
 
Management reports that average daily revenue for the first 36 days of 2013 is up over 9 percent on Q1-2012 and flat on Q4-2012.
 
Operational highlights included:
 
* Gala Coral completed its phased migration, adding its sports betting offering, to Gala Casino and Gala Bingo
* Playtech’s slot games offering launched in Italy following the introduction of new regulations
* Betclic and Everest poker products launched on the iPoker.fr and iPoker.com networks
* Betfair commenced its migration onto the iPoker network with completion planned for July 2013
* Betfred launched its mobile casino to initially include a selection of 20 table and slot games, aiming for a full mobile offering in 2014
 
William Hill Online
 
WHO delivered its largest quarterly contribution to the company since inception, marking a third consecutive year of double-digit growth.
 
On 29 November 2012, the board of William Hill plc commenced the valuation process as part of its call option to acquire Playtech’s minority stake in WHO. The valuation process will conclude at the end of February 2013, following which William Hill will have a short period of time to decide if it will exercise the option.
 
Mor Weizer, Playtech's chief executive, said Thursday:
 
“Playtech has again delivered an exceptional fourth quarter performance enhanced by WHO’s record quarterly profit and the significant
growth in software revenues, with Casino, Services and Bingo demonstrating double-digit increases.”
 
“The company achieved robust organic growth and benefitted from innovative cross-selling initiatives with several major licensees.
 
"Playtech’s new product and licensee launches, together with the launch of slots in Italy, have exceeded expectations and build further on the company’s solid growth platform.
 
“I am also pleased to announce that our joint venture with Gauselmann has been awarded licenses by Schleswig Holstein for online casino and sports betting.”



Gambling News :

Oink Country Love Slot Launches - Oink Country Love will have players tapping their feet to the country beat with the lovable Oink Bros, Willy and Chancho, who are trying to win over the heart of Miss Southern Charm in this five by three reel, 45-line online slot.

Tim Chung Wins MPNPT Manchester - The 288-runner £550 MPNPT Manchester Main Event today crowned its champion, awarding the bulk of the £150,000 total prizepool to the nine players surviving after two days of tournament poker at the Grosvenor Casino.

MPNPT Manchester Day 2 - Day 2 of the £550 MPNPT Manchester Main Event saw 60 Day 1 survivors (from a total of 288 entries) and three intrepid last-minute registrants sit down to play to the final table.

Day 1B MPN Poker Tour Manchester - Day 1B of the £550 MPNPT Manchester Main Event saw the field rise to 285, as players took full advantage of the whole-day re-entry period.

Day 1A MPNPT Manchester - The £150,000 guaranteed MPNPT Manchester kicked off today in style – 74 poker players from all over Europe arriving at the Grosvenor Casino to contend the first of two starting days

Kung Fu Rooster Slot Goes Live - Celebrate Chinese New Year - 2017 Year of the Rooster. It's time to sweep away any ill-fortune and make way for incoming good luck, with this exciting 12 lines slot game.

Sensational Sixes Slot Goes Live - Light up Icons like BAR's, black spades, red hearts, blue diamonds, and green clubs. The best part of Sensational Sixes are the three wild icons, for 2X, 4X, and 6X multipliers!

3 New Betsoft Slots - 3 new Betsoft slot Games were also added this week to most online casinos allowing US players.

2017 Bodog Super Millions Poker Open - The first events on the 105-tournament schedule have already been completed; there are three more tourneys on Thursday’s schedule, with a total of $34,000 in guaranteed prize money waiting to be won.

Pokerstars Pulls Out Of Coloumbia - Pokerstars Has taken the decision to cease offering real money services to players located in, playing from or resident within Colombia, effective from the 17th of July 2017.

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