Playtech income slips

21st Jul 2009 09:54

Shares in Playtech took a sharp dive after the online gaming technology developer said gross income in the second quarter was below that achieved in the prior three-month period.Playtech said its William Hill Online (WHO) business, a joint venture with the bookmaker, had a slower than anticipated start to the year due to a prolonged integration period and difficult trading conditions, though it is now making encouraging progress.The combination of challenging economic conditions and WHO's slower-than-expected start means that full-year trading will be below current market expectations, Playtech said. It anticipates adjusted EBITDA of between €43m and €45m in the first half of 2009.