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PLAYTECH REPORTS A STRONG Q2-2012

Tuesday August 7,2012 : PLAYTECH REPORTS A STRONG Q2-2012
 
Online gambling company reportedly advancing on all fronts          
 
The publicly listed online gambling software developer and turnkey provider Playtech plc has posted a generally strong set of Q2-2012 results along with a trading update.
 
Key performance indicators for the three months ended June 30 2012 included the highlights:
 
* Gross income up 82 percent to Euro 88.1 million, (Q2-2011: Euro 48.4 million) but flat compared to  Q1-2012
 
* Total revenues up 99 percent to Euro 78.6 million, (Q2-2011: Euro 39.6 million) and up 5 percent on Q1-2012
 
* Casino revenues up 36 percent quarter-on-quarter to Euro 37.1 million, (Q2-2011: Euro 27.3 million) and up 8 percent on Q1-2012
 
* Poker revenues down 12 percent to Euro 4.4 million, (Q2-2011: Euro 5 million) and down 18 percent on Q1-2012
 
* Bingo revenues up 21 percent to Euro 4.4 million, (Q2-2011: Euro 3.6 million) and up 1 percent on Q1-2012
 
* Videobet revenues up 36 percent to Euro 2.8 million, (Q2-2011: Euro 2 million) and up 15 percent on Q1-2012
 
* Services revenues up 4 percent to Euro 26.8 million on Q1-2012
 
* Share of profit in William Hill Online up 7 percent to Euro 9.5 million, (Q2-2011: Euro 8.8 million) and down 29 percent from Q1-2012 reflecting strong performance in Q1-2012
 
* PTTS purchase completed on 1 July 2011
 
Management provided the following trading update:
 
Daily activity for the first 31 days of Q3-2012 is 24 percent ahead of Q3-2011 and 3 percent below that of the daily average of the previous quarter.
 
Playtech licensees, including Bet365, William Hill, Betfair, and Casino Gran Madrid have launched in the newly regulated Spanish market with further licensees looking to launch in September 2012.
 
The Gala Coral project is progressing and the first two phases of its migration to the Playtech platform, including Gala Bingo and Gala Casino, were completed successfully in July and are performing well
 
Playtech's mobile strategy is advancing, with Paddy Power launching nine casino games in an integrated mobile solution
 
The company has won a number of industry awards for its products.
 
The largest bingo network progressive jackpot promotion yet was completed in Q2-2012, delivering a combined GBP 2.5 million in prize money to players
 
The highlight of Playtech's corporate achievements was the admission of the company to trading on the London Stock Exchange's Main Market for listed securities on 2 July.
 
The earlier of acquisition of PTTS, and the subsequent success of the company has led to Playtech accelerating the payment of an additional consideration of Euro 140 million payable to Worldwide Online Enterprises Ltd in three tranches through to 2014. PTTS achieved an annualised adjusted EBITDA in excess of Euro 40 million in H1 2012.
 
Playtech also completed its previously announced related party transactions for a social gaming software licensing agreement with Skywind Holdings, a lease agreement for GTS's premises and an advisory agreement with major shareholder Teddy Sagi on 12 June
 
Integration of January's acquisition of Geneity continues alongside strong performances from Playtech subsidiaries Mobenga and Ash Gaming
 
Playtech's Chief Executive, Mor Weizer, said: "First half performance for 2012 has been very encouraging and all products, with the exception of poker, have achieved strong year-on-year growth. I am also particularly pleased that Playtech achieved a Premium Listing on 2 July, which marks the company's exceptional progress since listing on AIM in 2006."
 
"The services division has delivered a very impressive performance and surpassed the accelerated payment threshold. This uniquely positions Playtech for future strategic revenue streams as markets continue to regulate. Although we anticipate a seasonal slowdown during the traditionally weaker summer months, I believe that the company is well positioned to maintain the momentum into the rest of the year."



Gambling News :

US$30M DUBAI WORLD CUP - Racecourse Media Group and Meydan to showcase world’s richest raceday to more than 150 territories The Dubai World Cup is the first horse race to be broadcast live on airlines and cruise lines

NHL Odds: Forsberg Faces Elliott in Nashville - The last time the Nashville Predators played against the Calgary Flames, Calgary had a 4-1 lead five minutes into the second period. Nashville responded with four back-to-back goals, including a hat trick from centreman Filip Forsberg. Both teams went into overtime with five goals, and Calgary defenseman Mark Giordano (12 goals, 22 assists) scored the winning goal.

Sit & Go 2.0 launched online exclusively at Americas Cardroom - Get ready to cheer like a champion before the first flop is even dealt. The much-anticipated Sit & Go 2.0 is now launched online exclusively at Americas Cardroom and Sit & Go players are reaping the benefits of the next evolution of poker.

NBA Odds: Hawks, Wiz in Southeast Showdown - The Washington Wizards (42-27 SU, 36-32-1 ATS) can pretty much secure the Southeast Division title with a win Wednesday night over the Atlanta Hawks (37-32 SU, 31-38 ATS). Tip-off is at 8 PM ET on ESPN; the Wizards lead Atlanta by five games with less than a month remaining before the playoffs.

Mega Moolah progressive jackpot Hit Again - Microgaming’s Mega Moolah progressive jackpot slot has been hit yet again at just over €6.6 million!

NBA Odds: Clippers Try to Slow Down Bucks in LA - Milwaukee Bucks small forward Giannis Antetokounmpo and Los Angeles Clippers power forward Blake Griffin are two of the most talented and versatile forwards in the NBA. The two lead their teams into battle on Wednesday in Los Angeles.

NCAAB Odds: SMU Hosts Tulsa With AAC Title on the Line - There aren’t too many college basketball teams more profitable than the SMU Mustangs (25-4 SU, 18-5-1 ATS). They host the Tulsa Golden Hurricane (14-14 SU, 15-12 ATS) this Thursday night, tipping off at 8 PM ET on CBSSN.

NHL Odds: Canadiens Welcome Islanders Tonight - The Montreal Canadiens (32-20-8) welcome the New York Islanders (28-21-10) on Thursday (7:30 PM ET on SNE). After getting their first victory under new head coach Claude Julien, the Canadiens will look to build on that momentum against a red-hot Islanders team.

NHL Odds: Reeling Flyers Seek Relief in Pittsburgh - #nhl The Philadelphia Flyers have been a bit off since the holidays. They’ve won just eight games since the Christmas break, and now they’ve got a tough one coming up this Saturday night against the Pittsburgh Penguins.

Dollars to Donuts Slot Launch - Firstly, it's a classically styled, easy playing 3-reel with five pay lines featuring a traditional icon set of bars and sevens.

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