International edition
September 22, 2020

The firm continued with its positive trend

Playtech reports improved financial results

(UK).- Online gambling software designer and supplier Playtech has released an interim management statement regarding its financial performance for the third quarter of 2012 and showing that it experienced a 30 percent year-on-year rise in gross revenues to 79.9 million euros.

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sle of Man-based Playtech revealed that this figure represented a 2% increase quarter-on-quarter while its third-quarter gross income climbed 32 % year-on-year to 92.7 million euros, which was five percent up on the second quarter of 2012.
Playtech declared that its share of profit in the William Hill Online joint venture escalated 50 % year-on-year to 12.8 million euros, which was a 36 % boost quarter-on-quarter, while it intends to ‘begin the valuation process’ on its 29 % stake in the business.
“In the event that the call option is exercised, Playtech will ensure a smooth handover of its 29 percent stake to deliver a seamless transition that supports William Hill Online’s continued progression,” read a statement from Playtech.
The firm stated that casino revenues for the three months to the end of September rose 33 percent year-on-year and four percent quarter-on-quarter to 38.5 million euros while revenues from its bingo operations experienced a 17 percent improvement when compared with the same period in 2011 to 4.4 million euros, which was a one percent boost in relation to the second quarter of 2012.

However, Playtech announced that revenues from poker dropped 27 year-on-year and six percent quarter-on-quarter to 4.1 million euros although earnings from both its Services division and Videobet subsidiary increased substantially.

“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,” said Mor Weizer, CEO for Playtech. “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 William Hill Online 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,” he concluded.

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