Software provider Playtech publishes annual trading update

By Joshua Weinstein

The publication of revenue figures made for interesting viewing this week as some of the most powerful names in the gaming industry released their annual trading updates. The world renowned software provider, Playtech, was among those releasing such reports with figures indicating modest revenue growth and a significant increase in gross income. The new figures appear in the wake of the company’s recent collaboration with William Hill in a partnership which has inspired great interest since its formation in 2008.

The publication shows Playtech revenue at a value of €114.8m ($161.8m, £100.3m). This represents year-on-year growth of 3%, plus a 3% drop off in casino revenue. This figure, however, is offset by evidence of a 12% increase in poker. William Hill Online, meanwhile, have contributed €22.5m of gross income pushing year on year group gross income up €137.3m. This represents a total increase of 23%.

Playtech chief executive, Mor Weizer, said that the fourth quarter showed strong signs of growth. He suggested a positive future for the firm and noted the quality and strength of its performance despite a difficult year involving some sporting setbacks. “The Board is very comfortable with market expectations for the year ended 31 December 2009”, he said. He went on to add that the company “looks forward to 2010 with confidence as another significant year of development”. Indeed, many will be joining Weizer in monitoring the progress of a company which is already making strong moves in the industry. Playtech’s recent joint venture agreement with Scientific Games has already stirred up excitement amongst players and providers making 2010 a challenging and important year to come.