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WHO sale boosts Playtech profits

The

Playtech
sale of Playtech’s stake in digital division William Hill Online bolstered an already impressive yearly net profit for the providers, according to their 2013 results.

Figures for the 12 months ending December 2013 reveal that the firm’s net profit for the period, excluding the WHO deal, was up 26% year-on-year to €148.3m, a number which soars to €488.8m when the transaction is included.

Playtech sold their 29% share of the WHO project to joint venture partners William Hill during the course of the year.

Total Playtech revenues for the year were up 16% to €367.2m, including a 25% increase in casino to €189.2m.

Sport rose 61% to €17.1m, while videobet (14%), services (5%) and bingo (3%) all improved, although poker dropped 18% to €14.7m.

Adjusted EBITDA for the period, excluding the WHO sale, was up 17% to €159.4m, while overall adjusted EBITDA was €177.5m.
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