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William Hill Online JV share of profit up 50 percent

Wednesday November 7,2012 : IMPRESSIVE RESULTS FROM PLAYTECH AND WILL HILL J.V.
 
William Hill Online JV share of profit up 50 percent
 
An interim management statement from online gaming provider Playtech for the period ending September 30, 2012 delivered strong results across the board with the exception of poker.
 
The firms profit share on its William Hill Online joint venture (WHO) is up 50 percent compared to the same period last year.
 
Other financial highlights include:
 
Gross income up 32 percent to Euro 92.7 million, (Q3/2011: Euro 70.1 million) and up 5 percent on Q2/2012
 
Total revenues up 30 percent to Euro 79.9 million, (Q3/2011: Euro 61.5 million) and up 2 percent on Q2/2012
 
Quarter-on-quarter revenue performance:
 
Casino revenues up 33 percent to Euro 38.5 million, (Q3/2011: Euro 28.9 million) and up 4 percent on Q2/2012
 
Bingo revenues up 17 percent to Euro 4.4 million, (Q3/2011: Euro 3.8 million) and up 1 percent on Q2/2012
 
Poker revenues down 27 percent to Euro 4.1 million, (Q3/2011: Euro 5.6 million) and down 6 percent on Q2/2012
 
Videobet revenues up 33 percent to Euro 2.9 million, (Q3/2011: Euro 2.2 million) and up 4 percent on Q2/2012
 
Services revenues up 38 percent to Euro 26.9 million, (Q3/2011: Euro 19.5 million) and up 1 percent on Q2/2012
 
Share of profit in William Hill Online up 50 percent to Euro 12.8 million, (Q3/2011: Euro 8.6 million) and up 36 percent from Q2/2012
 
Playtech's Chief Executive, Mor Weizer, commented:
 
"Playtech has continued its strong performance into the third quarter, delivering impressive year-on-year growth across the business, in what is usually a seasonally quiet period. Encouraging progress has been made with significant licensee launches, new mobile solutions including the unique mobile hub and mobile bingo application. We anticipate the new poker liquidity programme will improve this part of the business, assisted by further licensee wins.
 
"PTTS, Mobenga and Ash Gaming continue to perform strongly and we expect the Services division to maintain its upward trajectory as opportunities in regulated and soon-to-be-regulated markets begin to develop.
 
"William Hill Online has once again exceeded expectations, proving to be a transformational partnership for William Hill and Playtech. Regardless of William Hill's as yet undetermined final decision on the call option we remain committed to our important relationship with William Hill and the continued success of WHO going forward.
 
"The positive trend experienced in the third quarter has continued into the fourth quarter. Given the expected contribution of new licensees launched, further expected legislation in regulated markets such as Italian slots, the introduction of new products including sports and mobile applications and the advanced discussions the Company has held with various significant licensees, we remain very confident and excited regarding the future prospects for the business for this year and beyond."
 
In related news, Playtech announced the appointment of Adam Kay as Head of Investor Relations effective December 1, 2012.
 
Kay will work closely with Playtech's executive management and external investor and analyst audiences to promote Playtech's investment case.

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Gambling News :

Amaya FY2016 Trading Update - The Montreal-based Amaya online gambling group has issued a trading update covering FY 2016 and improving its forecast revenue and earnings numbers.

Another Mega Fortune Dreams jackpot for Euro 3.5 million - In a statement Friday NetEnt advised that the lucky player is a 62-year-old woman from central Finland who won the seven-figure sum from a Euro 1 stake.

Stanleybet has filed a legal action against the government of Cyprus - Bookmaking firm Stanleybet has filed a legal action against the government of Cyprus, claiming Euro 12.5 million as compensation for what it claims is loss of profits and opportunities, prejudice to image and business reputation and legal costs.

LeoVegas To Sponsor Leicester Tigers - The agreement includes official partner accreditation, media space at Welford Road stadium and matchday tickets and VIP hospitality as well as two pitchside perimeter boards from the 2017/18 season and one for duration of the 2016/17 season.

Optima Information Services iShop - Industry visitors to the recent TVC Bookmakers Trade Fair in Solihull, UK were much taken by Spanish betting technology firm Optima Information Services' iShop product, and the company went on to win the SBC Best Retail Betting Product award with it last month.

Golden Nugget Las Vegas Launches New Betting App - Golden Nugget Las Vegas has unveiled a sports wagering app offering Nevada punters the comfort and convenience of being able to wager from anywhere in the state.

CAGAYAN CHIEF MOVES TO REASSURE LICENSEES - Apparently $4 million is going into improvements of the Authority’s data centre in the Freeport at Cagayan, whilst another $3 million has been earmarked for an upgrade to data infrastructure located outside the Freeport.

New Massachusetts Online Gambling Bill - It seems that every two years (give or take a few months) Massachusetts state Senator Bruce Tarr flights an online gambling legalization bill in the state Senate.

Las Vegas Sands Fined for foreign bribery allegations - #lasvegassands Las Vegas Sands, the land casino company owned by multi-billionaire US mogul Sheldon Adelson, has again had to cough up a stiff penalty for non-compliance with the law.

Libratus AI Program Destroying Human Poker Opponents - #Libratus With 40,340 hands played (about a third of the 120,000 planned) Dong Kim is down $29,506, whilst Jimmy Chou ($113,7728), Daniel McAuley ($141,877) and Jason Les ($186,489) are all carrying losses.

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