Playtech with record profits for 2009

One of the major online casino software developers in the industry, Playtech has reported a huge profit of 71% in their 2009 annual report. New licensing agreements with companies such as William Hill Online were part of the succes, Playtech also reported a good start for the first months of 2010.

The gross revenue of the online casino business increased 23% to € 137.3 million (2008: € 111.5 million), This reflects the first revenues from licensee, William Hill Online. Total sales rose 3% to € 114.8 million (2008: € 111.5 million). Net profit after taxation was € 69.5 million (2008: € 40.7 million), up 71% .

The online casino software company that develops software for and licenses online casinos, bingo rooms and sports betting sites, indicates that the positive numbers is due to the fact that the company has signed 13 new licensees. These are companies like William Hill Online, VirtueFusion, Scientific Games and Sportech. The Serbian Olympic state-lottery, but also the more familiar brands such as Virgin and SEGA. Playtech also mentioned the help of their extensive range of products, the most up to date casino online games portfolio, enhanced poker functionality and a new sports book for her first license holder.

The company proposed a final dividend of 9.4 cents per share, which means a total dividend of 18.3 cents for 2009, an increase of 20% compared to 15.2 cents paid last year.

Playtech has enjoyed a strong start of 2010, following the acquisition of the Virtue Fusion, the daily average revenue for the first quarter expected to rise by more than 18% compared to Q4 2009. The average daily revenues excluding the acquisition of William Hill are more than 8% higher than in the previous quarter, this reflects a recovery of the activity of the licensee based Internet casino gambling business. All ll products are performing in line with or ahead of budget.

Roger Withers, Chairman of the Board of playtech said: “It is very pleasing to be able to report impressive financial results for the year to the end of 2009. Our revenue share model ensures that the business is fully aligned with its licensees, focusing on continual product development to help them achieve their business objectives. This is the cornerstone of the Playtech business and delivers substantial benefits to our investors.”

Click on the banner and register to receive a £300 welcome bonus!

Visit our online casino forum to discuss this news.