International edition
September 19, 2020

Strong start for 2011

Playtech posted a 10 % rise in full-year profit

(UK).- Playtech posted a 10 % rise in full-year profit and said revenues in the first two months of 2011 were ahead of last year. The firm said revenue growth in the first nine weeks of 2011 was up more than 8 % on the same period last year.

E

stonia-based Playtech reported adjusted earnings before interest, tax, depreciation and amortization (EBITDA) of US$ 143.1 million on revenues, 24 % higher at US$ 197 million for 2010.

The average forecast for EBITDA had stood at US$ 129 million according to a Thomson Reuters I/B/E/S poll.

Tne group said the UK Listing Authority has deemed it to be currently ineligible for a premium listing on the London Stock Exchange.

Playtech does not have the required three-year track record for at least 75 % of its earnings due to the strong growth of the William Hill Online joint venture formed in late 2008.

"I am extremely disappointed that the UKLA has deemed Playtech to be ineligible for a premium listing this year," Playtech's chairman Roger Withers said in a statement, adding that group is “committed to attaining this listing as early as possible in 2012."

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