8th Nov 2007 07:02
Playtech Limited08 November 2007 Playtech Limited ("Playtech" or "the Company") Third Quarter Trading Update Playtech (AIM: PTEC), the international designer, developer and licensor ofsoftware for the online, mobile and land-based gaming industry, announces todayits trading update for the third quarter and the first nine months of 2007. This has been an outstanding quarter for the Group which has registeredimpressive month on month revenue growth. This has continued into October whichhas recorded the Group's highest ever monthly revenue figure, significantlyhigher than September's revenues. For ease of comparison all 2006 revenues exclude contributions from the US fromwhere the Company's licensees withdrew over a year ago. Financial Highlights* • Record revenues for the quarter totalling $26.9 million representing an increase of 81% on the $14.9 million in Q3 2006 (Q2 2007 $24.2 million): - Casino revenues totalled $19.2 million, an increase of 51% from $12.6 million in Q3 2006 (Q2 2007 $17.4 million) - Poker revenues totalled $7.5 million, an increase of 266% from $2.1 million in Q3 2006 (Q2 2007 $6.3 million) • Monthly revenues now significantly exceed those earned prior to the US market withdrawal • Revenues from Asian facing licensees during the period grew by 14% from Q2 2007 and revenues from European licensees grew by 11%, giving overall growth of 11% on the second quarter • Strong current trading during October - 16% growth in total revenue over Q3 average monthly revenue • October Event: Significant addition of Bet365 to Playtech's iPoker network during October and additional organic growth boosting the network's already strong liquidity. Current Trading Revenues for October were significantly stronger than the monthly average duringthe third quarter of 2007, growing by 16%. Revenues from the Asian regioncontinue to grow through the organic growth of the Company's existing Asianfacing licensees. The Company expects to sign additional new Asian facinglicensees by the end of the year which should further strengthen the revenuegeneration from this region. In addition, the Company expects to be in aposition to launch its Asian P2P network in the coming few months. The Company'sEuropean facing licensees, which now generate 72% of Playtech's revenues,continue to show strong growth as they gain market share. The successfulmigration of Bet365 Poker during October, in addition to the organic growth ofthe Company's existing licensees is resulting in strong poker growth in Q4. Thelicensee pipeline is also strong with the Company having signed several MOUswith land based operators in regulated markets looking to extend their reachinto the online sector. Given the significant growth opportunities in suchpotential deals, the Company has accelerated its investment into such projectsfrom 2008 into the second half of the current year. Videobet continues to gainmomentum, having recently signed a new licensee in Central and South Americawhich intends to deploy a large number of terminals throughout the region. Mor Weizer, Chief Executive Officer, commenting on the results, said today: "We are delighted with this quarter's record breaking figures, which clearlydemonstrate the growing strength and presence of Playtech within the globalgaming sector. The Company continues to focus on adding successful and highprofile licensees, such as Bet365, and also on growing its market share inEurope and Asia. We are continuing to focus on these growth markets, inparticular Asia, which showed a 14% increase in revenues from licensees on thesecond quarter of 2007. We expect to see further growth and we are confident ofmeeting our expectations for 2007 and beyond." Third Quarter Key Performance Indicators at 30 September 2007* Revenues Three months ended 30 September 30 September Change 30 June Change'000 ($) 2007 2006 2007 Total Revenues 26,899 14,864 +81% 24,174 +11%Casino Revenues 19,152 12,633 +51% 17,430 +10%Poker Revenues 7,481 2,054 +266% 6,315 +19% Share of Geographical Diversity(1) Three months ended 30 September 30 September 30 June 2007 2006 2007 Europe 72% 53% 71%Asia Pacific 20% 33% 20%Rest of the World 8% 14% 9% Nominal Change in Geographical Regions Period Q3 2006 to Q3 Q2 2007 to Q3 2007 2007 Europe +123% +11%Asia Pacific +1% +14%Rest of the World -4% 0% Nine Months Key Performance Indicators at 30 September 2007* RevenuesNine months ended 30 September 2007 30 September 2006 Change'000 ($) Total Revenues 70,865 39,338 +80%Casino Revenues 51,797 33,919 +53%Poker Revenues 18,017 4,862 +271% Geographical Diversity Share of Geographical Diversity(1) Nine months ended September 30 2007 September 30 2006 Europe 70% 51%Asia Pacific 21% 37%Rest of the World 9% 12% Nominal Change in Geographical RegionsPeriod 9M ended 30 Sep 2006 to 9M ended 30 Sep 2007Europe +117%Asia Pacific -9%Rest of the World +15% (1) The share is calculated as the total players' income derived from thespecific region divided by the total players' income from all regions * All 2006 revenues exclude contributions from the US unless otherwise stated. - ends - For Further Information: Mor Weizer, CEO, Playtech Ltdc/o Bell Pottinger Tel: 020 7861 3232www.playtech.com David Rydell / Peter OteroBell Pottinger Corporate & Financial Tel: 020 7861 3232 -------------------------- This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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