Playtech announced their Q1 results for 2011 as they reported a 7% rise in gross income to €46.6 million (up to March 31st 2011).
Gross income was up 20% and total revenues were up 16% versus quarter 1 of 2010. Casino revenues were up 23% overall to €25.4 million but were 2% down on quarter 4 of 2010.
Poker revenue were down 25% to 5.7 million and 3% less than quarter 4 2010. The total revenue across the group was up 2% to €36.7 million.
Finally, Playtech reported that the first 23 days of Quarter 2 was 13% up on Quarter 2 of 2010 (excluding France) and 1% up across the whole group.
Mor Weizer, the Chief Executive, stated the following:
“We have made a solid start to 2011.With the roll-out of Videobet’s UK contracts nearing completion, together with the long-awaited regulation of Italian casino and cash tables due this quarter, we continue to develop new sources of regulated market income.”
He also went to say they were in advanced talks with potential new licensees from different jurisdictions in Europe and elsewhere. Mor reflected on the Black Friday events by saying that the actions of the US Department of Justice has “prompted considerable volatility” but “will in the longer term have a positive benefit to the iPoker networks both in the dot.com segment and also in the European regulated markets”.
Playtech was formed in 1999 and mainly provide software for online casinos, poker rooms, bingo rooms and sports betting operators They are now the “world’s largest publicly traded online gaming software supplier” as they provide very good software – especially for their casino partners. To read our dedicated Playtech review, please click here.