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Playtech Posts Strong 2011 Financial Results


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Like many of its rivals, last year was a highly successful one for leading
online gambling software developer Playtech, as its 2011 financial results
revealed that its overall revenues grew by 46 percent to €207.5 million,
compared with the year before.

As per Playtech’s 2011 Financial Results, its
gross income grew 41 percent to €243.6 million, its annual adjusted EBITDA rose
to €125.5 million, and its net profit improved by 21 percent to €112.8 million,
no doubt to the delight of the firm’s shareholders.

This meant that Playtech’s annual net cash balance for 2011 was €137.3
million, double what it was in 2010. This put the gaming firm in a good position
to raise £100 million in December to help fund acquisitions, as well as form a
slew of joint ventures.

Playtech Delivered an Excellent set of 2011 Financials

Said Playtech Non-Executive Chairman, Roger Withers, ‘These are exciting times
for Playtech, which has once again delivered an excellent set of financial
results and has consolidated its position as the clear market leader in the
provision of software and services to the online gaming industry.

‘Playtech
has developed its product and service offering to encompass all aspects of
online gaming including a full suite of products, cutting-edge management
systems, integration with land-based operations and the marketing and other
operational skills that enable operators to get the most out of their online
businesses,’ he said.

Listed on the London Stock Exchange, Playtech is one of the world’s premier
online gaming software vendors because of its vast portfolio of market-leading
games, and ongoing mergers and acquisitions, particularly in newly or soon-to-be
regulated online gaming markets.

Playtech Forms JV with Merkur Interactive GmbH

For instance, Playtech recently formed a joint venture with respected German
online gaming firm Merkur Interactive GmbH, to develop a state-of-the-art German
gaming site in anticipation of the soon-to-be regulated German online gambling
market.

‘Playtech has continued to focus on regulated markets with organic
development and targeted acquisitions that will ensure it can take best
advantage of the opportunities created by the structural changes underway across
the worldwide gaming industry,’ continued Withers.

‘The company’s strategy centres on developing three key elements; products
and services, turnkey solutions and joint ventures to maximise the potential for
revenue growth and market share in newly-regulating markets, regardless of how
each jurisdiction chooses to regulate,’ he said.

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