Playtech Posts Record First Quarter Revenues - 05-10-08

May 10 - The $39m revenue for the quarter is 97% up on the same period last year when they posted revenues of US$19.8m. More telling is the fact that it is a 19% increase on US$32.7m on fourth quarter 2007 revenues.

Looking at how the figures broke down, online casino revenues were up 79% to US$27.2m on US$15.2m in the dame period last year. They were up 19% on US$23m in Q4 2007. Poker revenues came in at US$11m, which is a massive 161% up on US$4.2m in 2007 and a quarter on quarter rise of 17% (US$9.4m in Q4 2007). Playtech's iPoker network is now the third largest behind Poker Stars and Full Tilt (although it is still far behind it has overtaken all the other networks, which is quick an achievement consider the do not accept US real money players).

The Chief Executive Office of Playtech, Mor Weizer, "This has been an outstanding quarter for the group, registering impressive month on month revenue growth. The addition of new licensees during the period and the anticipated full roll out of the new Asian P2P games and Flash Poker mean the group is well positioned to grow in Q2 and beyond. The group continues to pursue significant business opportunities across all the regulated markets and the Board is highly confident regarding the group?s trading performance for 2008 and beyond."

He went on to state that operational highlights included the fact that their iPoker network became the biggest non-US poker network worldwide and also the rollout of nine new licenses. Another highlight was the launch of Asian peer-to-peer games.

Current developments include the development of a Flash poker due in the third quarter of the year.

Visit our list of top Playtech Casinos to read reviews of some of their top licensees.

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