Playtech Reports 33% Revenue Gain In H1 2015

Playtech Reports 33% Revenue Gain In H1 2015Playtech, the world’s biggest iGaming software supplier, has reported €286 million ($320.8m) in revenues for H1 2015, a 33% increase compared to the €214.4 million ($240.5m) the company generated in the same period last year. Playtech subsequently saw its net profits rise by 11% to €83.9 million, y-o-y. Commenting on the figures, Playtech chairman Alan Jackson, said:
“Our gaming business continues to go from strength to strength with our strategy of focusing on regulated markets driving growth.”
During H1, Playtech saw revenues from its land-based casino arm soar by 28% to €148.9 million, helped along by the cross-selling opportunities presented following the acquisition of Austrian slots company Aristocrat Leisure Ltd for €10.5 million. Looking ahead, Playtech Chairman Alan Jackson said Q3 had started well, and that he was expecting further growth and for revenues to top those seen in 2014.
Poker, however, was the sole vertical to buck the upward trend, and while all other divisions reported double-digit growth, poker saw its revenues slide by 19% to just €6 million ($6.7 million), down from the €7.4 million ($8.3 million) it produced in 2014. Commenting on its poker results, a company statement said:
“Poker remains a challenging vertical due to unfavorable wider market trends. Revenues [are] down 19 percent in the half compared to the same period last year, although already from a very low base.”
In 2012, the Playtech owned iPoker Network split into two tiers, one catering for recreational players and the other for skilled grinders. The aim was to increase the network’s overall liquidity, but the plan seems to have failed and a few weeks back the iPoker Network decided to combine its poker rooms once more. Casing point, before implementing its tier-system there were 2,900 players on the network at any one time, but it is now showing 1,350 cash players over a 7-day period, currently placing it number four on PokerScout’s global traffic ranking, behind PokerStars (15,500), 888poker (2,100), and Bodog (1,600).

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