Positive Year For Playtech
19th March, 2010
An article on eGaming Review shows that Playtech has done nothing dissuade investors after a 25% hike in earnings before interest tax and amortization with a 71% increase in net profit during 2009.
Acting on this strong position in the market the company has been on the lookout for acquisitions, completing deals with Gaming Technology Solutions (GTS), Scientific Games/ Sportech and Virtue Fusion. These moved give the software provider a strong position in casino, lotteries and bingo.
Chief executive Mor Weizer said: “I believe this performance demonstrates both the robustness of the business model and the benefits of being a pure B2B provider. “The breadth and richness of our portfolio has enabled us in 2009 to attract many new licensees, including those added through acquisition. These licensees were drawn from a wide range of market segments. By these means we increasingly diversify our revenue streams by product, geography and licensee type and this is set to continue as more locally regulated markets open up.”
Daniel Stewart’s James Hollins commented on Playtech’s current trading, full-year results and strategy for the year ahead, he said that the company has good reason to be bullish. “On top of the strategic initiatives, we expect continued solid organic growth across all product verticals, with expected geographic expansion and monetisation of liberalising markets such as Italy.”
By Faye
