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Playtech Results Show Growth in Q4 Revenues

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Despite the fact that the global online gambling industry is precarious at the best of times, leading online gambling software firm Playtech has reported a 14 percent increase in its fourth quarter earnings for 2010.

Playtech, which develops online casino, poker and bingo platforms, reported an increase in its gross income for the quarter of 14 percent to €43.9 million, while its gross income for the year rose by 26 percent to €173.1 million.

Total revenues for 2010 increased by 24 percent to €142.3 million, while total revenues for the fourth quarter rose by 21 percent to €36.9 million. The company’s share of profit from William Hill Online increased by 37 percent to €30.8 million, including €7.0 million in the fourth quarter.

Playtech’s CEO Mor Weizer said that he and his board of directors were comfortable with market expectations for the previous year, and that they are full of confidence that 2011 will also be a profitable and productive year.

‘Playtech’s business has increased in all areas, delivering a very robust fourth quarter performance,’ he said. ‘Growth from our existing business, combined with the new licensees either just launched or due to launch shortly, gives us a solid platform for 2011.’

Quarter-on-quarter, Playtech’s online casino revenue increased by 20 percent to €25.9 million, while its online poker revenue increased by 3 percent to €5.9 million and its online bingo revenues increased by 9 percent to €3.3 million.

In addition, Playtech confirmed that its daily activity in the first three weeks of January 2011 was 11 percent higher than last year’s level, and more than one percent above the average of last year’s fourth quarter.

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