by Renee Israel
Playtech, a leading online casino software provider, has rolled out a strong
fourth quarter performance report, and says it is ready to enter the lucrative
US gambling market as it rides a continuing wave of success.
Playtech is confident of the role that it can play in the changing US
gambling landscape, especially since a Christmas announcement by the US
Department of Justice that cleared the way for state online gambling
opportunities.
Speaking about upcoming opportunities in the US gambling market and
Playtech's Q4 performance, the Chief Executive Officer of Playtech, Mor
Weizer said: "Playtech is preparing itself in each and every market to help its
customers and partners make the most of the changing regulatory landscape and
invest into those to certify its products."
Weizer pointed out that Playtech has once again delivered a robust fourth
quarter performance and, as a result, the board is comfortable with market
expectations for the year ending December 31st, 2011. He also said that the
group is looking forward to 2012 "with confidence."
"Growth from our existing business has created a solid platform for 2012," he
said. "Taken together with today's other announcements, I believe Playtech is
well positioned to take advantage of market opportunities wherever as and when
they appear."
"It is clear that there is continuing momentum towards regulated gaming in
Europe, with Denmark recently launched in regulated form, and both Spain and
Belgium due to regulate this year," he said.
Playtech Reports 89% Growth in Total Revenues
Total revenues for the group for the three months leading to the
last day of 2011 saw a 89% growth (to €69.6 million) in comparison with the
previous year. Gross income also grew to €78.4 million - an increase of 79%.
Other facts revealed by Playtech in its fourth quarter report
included:
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Casino revenues climbed to €32.8 million - a 13% increase.
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Poker revenues declined 2% to €5.5 million.
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Bingo revenues climbed to €4.1 million - an increase of 9%
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Videobet climbed 22% to €2.7 million
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The purchase of Geneity, the sports book developer, would
enhance Playtech's capabilities and provide an entry point for operators in
regulated markets around the world.
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The group has entered into joint gambling ventures with two
international companies - the German-based Merkur-Gauselmann and South
African-based Peermont.
