Playtech Announces “Strongest-Ever Quarterly Performance”
Playtech, owners of the iPoker Network, enjoyed its strongest-ever quarter during Q3 of the 2014 financial year, posting increases across the board when compared to Q3 of 2013, including a 28.6% increase in revenue.
It has been a busy few months for Playtech who launched a casino and live dealer offering with Skybet, renewed it contract with William Hill to provide its bingo product and acquired Aristocrat Lotteries, among other business dealings.
The group’s strategy is certainly working with its various departments all posting substantial increases.
|Q3 2014 (€m)||Q3 2013(€m)||Change on Q3 2013|
Speaking of Playtech’s superb performance, its Chief Executive Officer Mor Weizer said in a statement to the London Stock Exchange:
“The strong growth seen through the first half continued through the third quarter resulting in the strongest-ever quarterly performance, driven by our flagship casino, including mobile and Live, sport betting, land-based revenue and services.
“During the quarter we launched innovative live casino offerings for both Skybet and RAY, along with a powerful web and mobile sport offering for the newly launched GazzaBet website for RCS Media in Italy. This represents the first phase of a full turnkey solution, and we expect to launch casino and mobile casino in due course.
“We started to deliver on our turnkey strategy with three licensees moving their UK-facing activity to the Playtech white label structure, strengthening our position as a key provider and demonstrating the financial and operational benefits that can be achieved by using our turnkey offering.
“Looking ahead, the management team is confident of exceeding current market expectations for the full year.”
Investors in Playtech reacted positively to the news and shares rose 8% to 759 pence, taking the company’s market capitalisation to more than £2 billion, more than 2.5 times as much as bwinparty.