30th Apr 2014 08:19
LONDON (Alliance News) - Online gaming software supplier Playtech PLC on Wednesday expressed confidence in its continuing growth prospects for 2014, as it saw revenue rise in the quarter to end-March.
Playtech posted revenue of EUR102.7 million in the quarter, up from EUR87.5 million a year before, driven by strong performances in its Casino, Services and Sport divisions.
Casino revenues rose to EUR55.4 million from EUR44.1 million. Services revenue rose to EUR29.7 million from EUR26.3 million, including contributions from PokerStrategy.com which it acquired for EUR38.3 million in July 2013.
The company said that average daily revenue for the first 29 days of its second quarter are up over 15% compared to the previous year.
Playtech had cash and cash equivalents as at March 31 was EUR375.8 million, after its distribution of a special dividend and the establishment of an employee benefit trust.
The company said its had bolstered its mobile division by launching new products, including a number of games specifically for tablets and smart-phones.
Playtech said that during the quarter it had completed the roll out of its multi-channel software to Gala Coral Group Ltd retail outlets and migrated the entire Ladbrokes PLC online gaming suite onto its platform.
Labrokes has adopted Playtech's Information Management Solution software as the infrastructure for its gaming and betting operations, Playtech said.
Shares in Playtech were trading up 1.5% at 648.00 pence Wednesday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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