Playtech Revenues Up 17% To €102.7m In Q1

Playtech Revenues Up 17% To €102.7m In Q1The world’s biggest supplier of online gambling software, Playtech, has released its results for the first quarter of 2014, revealing a 17.4% increase in revenues to €102.7 million ($141.7 million) compared to the €87.5 million taken in Q1 2013.
Playtech’s casino division accounted for a massive €55.4 million of Q1 revenue’s, representing a 25.6% improvement over the €44.1 million it contributed in the corresponding quarter last year. Compared to Q4 2013 revenues were also up by 2.9% .
The company’s services revenue, too, improved by 12.9% to €29.7 million, helped along by the acquisition of which it purchased for €38.3 million in July 2013. Also reporting gains was sports betting up 21.7% to €5.6 million.
On the flip side, however, Playtech’s bingo offering saw a 16.7% fall in revenues to €4 million, while poker declined by 13.6% to €3.8 million.
Overall, Playtech saw its percentage revenues from Europe fall from 66% to 58% year-on-year in Q1 2014, although this was offset by the firm’s Asian operation which reported an increase in revenues to 33% from 22% last year. Across the rest of the globe, Playtech’s share of revenues slipped from 12% in Q1 2013 to 9% this year.
However, Playtech may face some major challenges soon as the company’s illicit operation in Asia’s unregulated market now represents a huge slice of its revenues, which could subsequently bring it into conflict with the UK Gambling Commission. In March, the gambling watchdog said from now on it would require license holders to justify their presence in any unregulated, grey market from which 3% or more of their total revenue are derived.
Following Playtech’s Q1 2014 results being released, shares in the company are currently trading at 659p, up from a 52 week low of 565p, giving the company a market capitalization of £1.93 billion.
Going forward into the next quarter, Playtech CEO Mor Weizer, said: “Looking ahead, the board remains confident regarding the continuing growth prospects for the company.”

Poker News
Spanish Online Poker Revenue Jumps 27% in Q1
03 Jun 2018
In January, Spain and France started pooling their online poker players in an attempt to revive an industry decimated by the ring-fenced policies adopted by their respective governments. If they were ever in any doubt as to the validity of their move, the results for the first three months of 2018 will certainly have allayed
Ohio Casino Revenue Up 1% to $71.8m in April
17 May 2018
The Ohio Casino Control Commission has released its gambling results for April, with the state’s four casinos collecting $71.8 million last month, up by almost 1% compared to the prior year. Meanwhile, the Buckeye State’s seven racinos fared considerably better, with their revenue rising by 8% to $89.7 million from their slots and video gaming
NJ Generates Record iGaming Revenues in February
15 May 2018
In April, New Jersey’s online gambling market saw its revenue rise by 10.6% to $23 million versus the same month in 2017, with the amount posted second only to the record $25.6 million collected in March 2018. As a result, the Garden State has now generated $92.5 million over the first four months of this
Maryland Casino Revenue Up 6% to $143m in April
11 May 2018
Maryland’s six casinos generated gross gaming revenue (GGR) of $143.5 million in April, marking a 5.7% increase compared to the $135.7 million collected in the same month a year ago. As a result, the Free State has now returned four consecutive months of gains this year, providing much needed assistance to the Education Trust Fund,