Playtech Q4 revenue leaps 20 per cent

Online gaming software company Playtech posted a 20 per cent leap in total revenues for the three months ended December 31st, boosted in particular by improvements in both Casino and Services income.

Online gaming software company Playtech posted a 20 per cent leap in total revenues for the three months ended December 31st, boosted in particular by improvements in both Casino and Services income.

Quarterly revenues of €83.9m, up from €69.6m the same period the previous year, contributed to a 53% increase in total full year revenues of €317.5m, compared to €207.5m in 2011.

Gross income for the year rose 51% to €368.1m (2011: €243.6m), while on a quarterly basis it climbed 26% to €98.8m, from €78.4m the same period in 2011.

Divisionally, quarterly revenue from the Casino business rose 27% year-on-year, Services 17%, and Bingo 14%, while Poker revenues dropped 27% and Videobet was stable at €2.7m.

William Hill Online, to which Playtech is a major supplier, delivered its largest quarterly contribution to the company since inception, marking a third consecutive year of double-digit growth.

Playtech's Chief Executive Officer, Mor Weizer, said: "Playtech has again delivered an exceptional fourth quarter performance enhanced by WHO's record quarterly profit and the significant growth in software revenues with Casino, Services and Bingo demonstrating double-digit increases.

"The company achieved robust organic growth and benefited from innovative cross-selling initiatives with several major licensees. Playtech's new product and licensee launches, together with the launch of slots in Italy, have exceeded expectations and build further on the Company's solid growth platform.

"I am also pleased to announce that our joint venture with Gauselmann has been awarded licenses by Schleswig Holstein for online casino and sports betting.

"As a result of the impressive performance in Q4 and since the beginning of the year, the board is very comfortable with market expectations for the full year and looks forward to 2013 with confidence."

Net cash at the year end dropped from €137.3m to €51.9m over the 12 months.

In the year-to-date, average daily revenue for the first 36 days of 2013 is up over 9.0% on the first quarter of 2012 and flat on the final quarter of 2012.

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