Playtech record strongest ever results

Playtech has announced their third quarterly results showing the best ever quarterly performance in the history of the company.

Indeed CEO Mor Weizer praised the online gaming software giant’s “strongest-ever quarterly performance.”

Company revenues for Q3 were €116.5 million, which is up 28.6% from the same period last year which was €90.6 million.

Largest contributing factor for the companies rise was their online casino business €62.4 million for the quarter which represents a rise of 33.3% from last year’s same period. The largest growth was Playtech sports business rising a spectacular 108.8% to €7.1 million.

The company also noted that while the percentage of revenue generated in the European region dropped by about 8% in the quarter, gains were made in the Asian market.

Interestingly the figures also showed that the online firm is expanding into the Asian market, with revenues now from that sector accounting for 36% of the total compared to 25% in the same period in 2013. European business acounted for 56% in this quarter last year it was at 64%.

Weizer said in his statement to shareholders: “The strong growth seen through the first half continued through the third quarter resulting in the strongest-ever quarterly performance, driven by our flagship casino, including mobile and live, sport betting, land-based revenue and services.

“We started to deliver on our turnkey strategy with three licensees moving their UK-facing activity to the Playtech white label structure, strengthening our position as a key provider and demonstrating the financial and operational benefits that can be achieved by using our turnkey offering.

“Looking ahead, the management team is confident of exceeding current market expectations for the full year.”