Online Casino Style: News - Playtech Checks In for Good First Half

09/13/2010		Online Casino Style - News: Playtech Checks in for Good First Half
Home History Games News Dictionary		While the Irish internet gambling company Paddy Power is celebrating their updated trading report putting them on schedule for the year end, their fellow competitor for internet gambling attentions, Playtech, had their own reasons to rejoice with a strong first half of the year being reported by their management team. With the period end report came not only the details of their positive revenue details, but also a series of highlights that contributed to the success, including recent licensee contracts as well as the launch of new networks. Gross income for the internet gambling company was up an impressive 31 percent, coming to a grand total of €87.9 million, compared with 2009’s €66.9 million for the first six months. Their EBITDA was up as well, though less, jumping 20 percent to €54.2 million, and reflecting healthy profits from a gross income margin of 62 percent. Total revenues were up by nearly a third, coming up 29 percent to €72.9 million. Even their cash generated from the operating activities came to a very solid €60.8 million, compared with the previous year’s €37.0 million. The first six months of the year was a very busy time, with a number of achievements being made in that time frame. Poker networks were introduced in both the French and Italian markets, newly liberalized and froth new members battling for a piece of the pie. In the European market, they also went so far as to launch the new brand Olympic Casino with high hopes for its success. The second half of the year should be just as exciting, with the company intending to launch the new Betfair flash casino this fall, as part of the highly publicized and fresh new partnership with the online casino, as well as a new deal with RAY in Finland. By 2011, Casino Gran Madrid should be well on its way. In the meantime, however, Playtech is still trying to find a new leader, with the search for a new CFO in its advanced stages.

09/13/2010

Online Casino Style - News:
Playtech Checks in for Good First Half

While the Irish internet gambling company Paddy Power is celebrating their updated trading report putting them on schedule for the year end, their fellow competitor for internet gambling attentions, Playtech, had their own reasons to rejoice with a strong first half of the year being reported by their management team. With the period end report came not only the details of their positive revenue details, but also a series of highlights that contributed to the success, including recent licensee contracts as well as the launch of new networks.

Gross income for the internet gambling company was up an impressive 31 percent, coming to a grand total of €87.9 million, compared with 2009’s €66.9 million for the first six months. Their EBITDA was up as well, though less, jumping 20 percent to €54.2 million, and reflecting healthy profits from a gross income margin of 62 percent. Total revenues were up by nearly a third, coming up 29 percent to €72.9 million. Even their cash generated from the operating activities came to a very solid €60.8 million, compared with the previous year’s €37.0 million.

The first six months of the year was a very busy time, with a number of achievements being made in that time frame. Poker networks were introduced in both the French and Italian markets, newly liberalized and froth new members battling for a piece of the pie. In the European market, they also went so far as to launch the new brand Olympic Casino with high hopes for its success.

The second half of the year should be just as exciting, with the company intending to launch the new Betfair flash casino this fall, as part of the highly publicized and fresh new partnership with the online casino, as well as a new deal with RAY in Finland. By 2011, Casino Gran Madrid should be well on its way. In the meantime, however, Playtech is still trying to find a new leader, with the search for a new CFO in its advanced stages.