GGRAsia – Playtech sees 33 pct rise in first-half revenue

Playtech sees 33 pct rise in first-half revenue

Aug 31, 2015 Newsdesk Industry Talk, Latest News, World

Playtech Plc, a provider of software and content for the online, mobile and land-based gaming industries, reported revenue of EUR286 million (US$321.4 million) for the six months to June 30, up by 33 percent from the prior-year period.

Adjusted earnings before interest, taxation, depreciation and amortisation rose by 16 percent year-on-year to EUR112.9 million, the firm said in its latest filing. Playtech posted a net profit of EUR83.9 million for the period, up by 11 percent from a year earlier.

The firm, listed on the London Stock Exchange, also provides financial trading services. It declared an interim dividend of EUR0.096 per share.

“We have made significant progress against all aspects of our strategy during the first half of the year,” Alan Jackson, chairman of Playtech, said in a statement accompanying the results. “Our gaming business continues to go from strength to strength with our strategy of focusing on regulated markets driving growth,” he added.

The gaming division’s revenues represented 40 percent of the firm’s first half revenues from regulated gaming markets, compared to a contribution of 35 percent in the comparable period of 2014. Within the segment, revenue from land-based gaming almost tripled to EUR15.1 million, compared to EUR5.8 million in the first half of 2014, “boosted by the acquisition of Aristocrat Lotteries,” Playtech said.

Playtech in September completed the acquisition of the lottery business of Australian slot machine maker Aristocrat Leisure Ltd, in a deal worth EUR10.5 million.

“Following the acquisition of Aristocrat Lotteries, Playtech’s leading land-based operation further extended its reach and diversification across key regulated markets,” Playtech said.

It added: “The acquisition also created cross-selling opportunities in existing as well as new jurisdictions with the benefit of this cross-selling contributing to growth in the first half.”

The company said it is currently installing a system “to cover all electronic bingo slot machines in 68 bingo clubs in the Philippines, initially for circa 5,000 machines, with the first sites to be installed in late 2015”.