16th May 2018 09:33
LONDON (Alliance News) - Online gaming software supplier Playtech PLC on Wednesday said that new contracts, business initiatives and acquisitions will materially increase regulated revenue and improve diversification.
In its annual general meeting statement, Playtech said its business-to-business gaming division, excluding Asia, has seen improvement in year-to-date average daily revenue against the comparative period and trends reported at the time of the annual results in February.
Playtech's B2B Gaming division in Asia recorded a year-on-year drop in average daily revenue due to strong comparatives and increased backdrop.
The company's business-to-consumer gaming unit performed in line with expectations, it said, with the Sun Bingo contract continuing to see some revenue improvement.
Playtech continues to explore further acquisition opportunities with complementary businesses in the B2B Gaming division. In April, it acquired majority stake in Italian gambling firm Snaitech SpA for EUR846.0 million.
"Management is confident that achievements in 2017 and in 2018 to date have delivered a strong platform for further strategic and operational progress in 2018," the UK listed company said.
Shares in Playtech were trading 2.0% lower at 804.40 pence Wednesday morning.
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