Playtech enjoying promotion to main market, revenues double
Playtech, the online gaming software developer, has nearly doubled revenues in the second quarter of 2012 while also achieving entry to the main market of the London Stock Exchange.
Playtech, the online gaming software developer, has nearly doubled revenues in the second quarter of 2012 while also achieving entry to the main market of the London Stock Exchange.
Gross income rose 82% to €88.1m against €48.4m in the same period of 2011, although that figure was broadly flat on the previous quarter.
Total revenues rose 99% on 2011, hitting €78.6m.
MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Playtech is very definitely in a growth industry, with online and, especially, mobile gaming increasing in popularity.
Playtech has benefited from several of its licensees launching in the newly regulated Spanish market including Bet365, William Hill and Betfair.
The group also has a share in the profits of William Hill online, which generated €9.5m in revenues in the last three months, up 7% on last year.
Commenting on the results, Playtech's Chief Executive, Mor Weizer, said he was "particularly pleased" that Playtech had made it on to the main market of the LSE on July 2nd, just six years after debuting on AIM.
The group currently has a market capitalisation of £2.7bn and trades at 11.2 times last year's earnings.
BS
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.
-
Can the House of Lords change the government’s mind on controversial inheritance tax reforms?
The House of Lords has launched an inquiry into inheritance tax changes on pensions and agricultural property relief - can the government’s plans be stopped?
-
Nationwide Building Society launches £175 switching deal – who is eligible?
Nationwide Building Society has launched a new current account switching deal. We look at whether you are eligible, and how to get the free cash.