Online Casinos Provider Releases Impressive Trade Update - 07-29-06

July 29 - Online casino gambling software developer Playtech released a trading update for the second quarter of 2006. Total revenue for the quarter is up by 133% when compared to the same period last year, and up 22% on the first quarter to $25.4 million...

The group reported that online casino revenue is up by 121% when compared to the second quarter of 2005, and up 21% on the first quarter to $22 million.

Poker has seen massive growth by 701% compared the same period last year, and has grown 30% over the previous quarter to $2.7 million. The quarter seemed to be a strong one for Playtech, considering that the second quarter is normally the most quiet for the online gambling industry.

A Playtech spokes person said, "Playtech has shown very strong growth over the past quarter. Both Casino and Poker revenues continue to grow and our policy of geographical diversification continues on track. It is also very encouraging to see the progress in our development pipeline. We look forward to the second half of the year with confidence."

Playtech currently licenses casino, poker and bingo software to 42 independent operators, who represent a total of 137 individual sites. This is an increase of  which of 22 new sites over the previous quarter.

Playtech is current developing new products which include Videobet, Mobile gambling and Mahjong, which are specifically targeted at the Asian market. Playtech's Asian operation has seen a  a 17% revenue increase over the first quarter as the region continues to be a major focus for the group.

However, amidst all the growth, the actual revenue earned from the US has decreased when compared to the previous quarter.

Click here for our reviews of some of the best Playtech Casinos.

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