Playtech delivers higher revenue in first quarter

30th Apr 2014 09:08

Strong performances in Asia and its casino business drove total quarterly revenues higher at Playtech in the first three months of 2014. The online gaming software supplier said a group revenue increase of 17.4% from €87.5m to €102.7m was largely thanks to a quarterly Casino revenue rose 25.6% from €44.1m to €55.4m. Services, Sport and Land-based revenue climbed 12.9%, 21.7% and 16.7%, respectively, while Bingo declined 16.7% and Poker fell 13.6%. Quarter-on-quarter, total revenue climbed from €99.8m, up 2.9%. Geographically, Asia's revenue contribution jumped from 22% to 33% year-on-year, and up from 28% in the final quarter of 2013. Chief Executive Mor Weizer said: "Playtech has made a strong start to 2014. The company's diverse licensee base has delivered a robust performance driven by our flagship Casino, Live Casino, Sport Betting and mobile products. "Over the first quarter we focused on operational progress in key areas that are an inherent part of our growth strategy; improving our Casino and Live offering, IMS and single wallet and Sports Betting capabilities. Our leading position in the mobile space has been bolstered by the launch of new products, including a number of innovative games along with poker and bingo designed specifically for tablets and smartphones." During the period the company completed the roll out of its multi-channel solution to Coral retail outlets and also transferred the entire Ladbrokes online gaming offer onto the Playtech platform. In the current quarter, the first month saw daily revenue increase by 15% on the same period in 2013, including the contribution of PokerStrategy.com, and was in line with the first quarter figure. Looking ahead, the the group said it remained "confident regarding the continuing growth prospects for the company".The share price climbed 2.43% to 654p by 09:40 on Wednesday. NR