Reports 9.8% Total Revenue Increase for Half-Year
ISLE OF MAN - Listed British online gaming developer, designer and software licensor, Playtech Limited, remains resilient amidst a backdrop of global economic woes according to the firm's recently released interim half-year results.
Playtech's balance sheet revealed a gross income of about $97.76 million (€66.9 million), a 29.8% year-on-year increase over the same period last year when Playtech reported $75 million (€51.6 million) in gross income.
The Isle of Man-based gaming company attributed its strong half-year performance to increased licensee agreements this year including deals with Betfair and NetPlay TV. Playtech's emerging presence in the French and Spanish gaming markets, as well as new partnerships in recently de-regulated markets such as Serbia and Estonia, have also contributed positively.
Total revenues increased 9.8% Y-O-Y from €56.7 million to €56.7 million while adjusted EBITDA rose 33.2% from €34 million to €45.3 million.
According to Playtech CEO Mor Weizer:
"The first half of 2009 has seen Playtech's licensees operating in a challenging macro-economic environment yet total revenues have increased by 9.8 percent."
Playtech's casino revenues were up 2.2% while poker revenues increased by 23.8% over the same period last year.
"The underlying performance of Playtech's core royalty business continues to be resilient. I remain confident that our industry-leading products and services, diversified licensee base and strong reputation will mean that Playtech continues to perform strongly."
