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playtech financials


playtech financials


playtech financials


playtech financials


playtech financials

 


Playtech Acquires Sports Betting Software Developer - 03-20-09


March 20 - Playtech has finally added sports betting to its arsenal and is reported to be considering even further expansion into that market.

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playtech financials


The company has also just reported a 50% increase in dividend following a 55% rise in net profit.

Playtech, still majority owned by Israeli businessman, has purchased Player2Players, a developer of betting software, for an undisclosed amount. This fits nicely with Playtech established and leading edge casino, poker and bingo software products.

The latest financial results are the first glimpse of the impact of the recent deal which Playtech struck with William Hill, a UK listed gambling company.

The deal saw Playtech buying various online gaming businesses and contracts, which it sold to William Hill for $250m. The new company called William Hill Online has a 29 per cent stake in the business.

Playtech reported a 40 per cent rise in revenues comparable to numbers before the deal took place.

Playtech recent aggressive acquisition of new licensees has seen the company's fortunes rise with the analysts and their financial results back this up. Revenues were up 2.3 per cent in the first 11 weeks of the year, compared with the fourth quarter. Pre-tax profits rose from £26.8m to £41.4m. Net profit for 2008 was £40.7m, and revenues climbed 70 per cent to £111.5m. Earnings per share were 17.9 cents, compared to 12.3 cents last year. The company paid a final dividend of 7.6 cents, giving a total pay-out for the year of 15.2 cents - a 49 per cent increase from last year's 10.2 cents.

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    Playtech Acquires Sports Betting Software Developer - 03-20-09 Send To A Friend


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