Playtech reports a 71% Increase in Profit for 2009
Posted on March 19, 2010 by John Trevors for Luckyroom.com
The previous year has managed to take away the smile off a number of licensees powered by Playtech and ipoker but has surely drawn a wide smile on the face of investors as the Israel owned and Cypriot based online gaming software has managed to report a 25% increase in earnings for the year that has left us along with a 71% increase in net profit. The online gaming software provider for William Hill Casino, William Hill Poker, Titan Poker and Titan Casino and a number of respected online gaming brands is moving from strong to stronger after its tight policy regarding the ecology of its fast growing online poker network.
In the past semester Playtech has moved forward with acquisitions of GTS (Gaming Technology Solutions), Sportech and Virtue Fusion which is anticipated to give it a major boost as far as the fast growing online bingo industry. CEO Mor Weizer said: “I believe this performance demonstrates both the robustness of the business model and the benefits of being a pure B2B provider. “The breadth and richness of our portfolio has enabled us in 2009 to attract many new licensees, including those added through acquisition. These licensees were drawn from a wide range of market segments. By these means we increasingly diversify our revenue streams by product, geography and licensee type and this is set to continue as more locally regulated markets open up.”
Playtech Ltd. Trading on the London Stock Exchange as PTEC is an online gaming software development company founded in 1999; the company provides software for online casinos, online poker rooms (ipoker), online bingo games, scratch games, mobile gaming and fixed-odds arcade games online. It’s internet poker network known as ipoker hosts amongst other large and respected poker brands: William Hill Poker, VC Poker, Titan Poker, Mansion Poker, Betfred Poker and recently acquired by Party Poker Tony G Poker. You may read more about ipoker on Wikipedia.
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