Record first quarter profits for Playtech
15th May, 2008
Online casino gaming software developer Playtech has notched up record-high profits for the first quarter of 2008.
Key performance indicators released by the firm showed a massive 97 per cent increase in casino gambling revenue between Q1 2007 and Q1 2008, reaching a total of $39 million (£20 million).
Playtech attributed the continued success to internal growth of its existing licences, which include such leading brands as Casino Tropez, Europa Casino and Prestige Casino.
It also added nine new licences in 2008, including Betsson - one of the largest Europe-facing online casino operators - and Vista Global Limited, which is behind the Hollywood Poker brand.
Playtech chief executive Mor Weizer commented: "This has been an outstanding quarter for the group, registering impressive month-on-month revenue growth."
He added: "The addition of new licensees during the period and the anticipated full roll out of the new Asian P2P games and Flash Poker mean the group is well positioned to grow in Q2 and beyond."
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