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Playtech's Strong Quarterly Performance

Playtech’s Strong Quarterly Performance

October 14th, 2014

Leading sports betting, online gaming, mobile casino software supplier Playtech announced its Q3 results recently, reporting record-breaking revenue of €116.5 million. Playtech has shown an impressive leap from last year’s results which were registered to be €90.6 million during the same year. The leap translates to a growth in revenues of 28.6 percent.

Growth

Playtech

The latest Q3 results reveal that the company’s online gaming wing has received a good reception from the Asian markets, who accounted for 36 percent of the net revenues, which was at 25 percent during the same quarter last year. European markets showed a dip, accounting for 56 percent of the revenues compared to the 64 percent during Q3, 2013.

One of the biggest contributors to Playtech’s success can be accounted to its online casino business. The returns from the online casino were reported to be €62.4 million, a 33 percent increase from last year’s values during the same period. Meanwhile, the sports business wing showed the highest growth, registered at 108.8 percent, recorded to be €7.1 million.

Playtech has its eyes set on a strong finish for 2014

The CEO, Mor Weizer states that the momentum from the strong growth that Playtech saw during the first six months, continued to drive it forward resulting in the “best quarterly performance” during Q3. This quarter Playtech managed to put up many innovative offerings on its live casino on RAY and Skybet. GazzaBet, which was newly launched for Italy’s RCS Media, has powerful web and mobile gambling offerings, says Weizer. The sports betting, flagship casino, and land-based revenues have contributed to the massive growth Playtech has seen this quarter, he states. Playtech looks to continue on the same beat in the 4th quarter to mark a powerful finish this year. Weizer says that the management is confident that they will out do the set market expectations this year.

The product suite at Playtech hosts many gaming operators like William Hill, Paddy Power, Ladbrokes, Bet365 and Gala Coral.