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