Playtech have revealed their Quarter 2 results for 2011. Their continued growth year and year and from Quarter 1 this year show that things are going very well for the “world’s largest publicly traded online gaming software supplier”.
In total (excluding France), revenues were up 19% on Quarter 2, 2010 and also 8% higher than Quarter 1, 2011. Breaking this down, casino revenues were up an impressive 24% on Quarter 2 last year to €27.3 million and 7% higher than Quarter 1, 2011. Poker revenues on the other hand were down 24% on Quarter 2, 2010 to €5 million and 12% lower than Quarter 1, 2011.
On an absolute basis, total revenues were up 7% to €39.6 million and 8% higher than Quarter 1, 2011. Bingo revenues were significantly up 32% to €3.6 million from Quarter 2, 2011 and 5% on Quarter 1, 2011.
Finally, videobet revenues generated €2 million in the last quarter. However, results from the William Hill Online venture will be available on the 5th of August. In terms of Quarter 3, revenues for the first 18 days are more than 25% ahead of Quarter 3, 2010.
Operationally, Playtech has completed Videobet’s UK rollout with 20,750 machines migrated this year. The PTTS acquisition was also completed at the end of the quarter as well as a software agreement being signed with California Online Poker Association (COPA).
Playtech has also been approved in Malta for their Live games platform and they have soft launched Casino Gran Madrid with is their first locally regulated Spanish operator. Playtech also made strides in the Bingo market as they were recognized in the 2011 B2B industry awards which included Best Bingo Software and Best RNG Casino.
Mor Weizer, Chief Executive of Playtech, said that “it has been a very positive quarter for Playtech, continuing a solid start to 2011 and included both the finalisation of Videobet’s UK roll-out and the completion of the PTTS acquisition.” He went on to say the following:
“Major licensee wins were announced, including the significant win of COPA in California; and today we have also announced the signing of a significant contract with Gala Coral to provide its online technology platform across all channels. We were first in the market to launch casino and cash poker tables in Italy this week, including SNAI and SISAL as well as other existing and new licensees, and welcomed both William Hill Online and Titan into the Italian network.”
“In addition, we have positioned ourselves to offer a platform for the rapidly growing mobile sportsbook segment, through the acquisition of Mobenga announced today. This is a strategic acquisition given the importance of mobile and the accelerated penetration rates of mobile.”
“These developments reflect the success of our ongoing investment in the business and many months of intense preparatory work. Each is set to enhance our future regulated market income stream and the licensee pipeline remains strong across the product range. We would expect to announce further wins in the coming months.”
“Revenues and player activity have grown throughout the quarter and while we are moving into what is traditionally the quietest seasonal period, we are pleased with Playtech’s core business and the newly acquired PTTS, which has shown good resilience and is performing in line with our expectations.”