Playtech reveal strong Q3 results

tech have announced big year-on-year increases in income and revenue for the third quarter of 2011.

The software supplier’s gross income for the three months ended 30 September 2011 was €70.1m, up 45% on the figure for the same period of 2010, while total revenue was up 55% to €61.5m.

In terms of specific verticals, poker revenue was up 13%, while casino and bingo revenues rose 6% and 5% respectively. Videobet revenue also increased by 6%.

The company’s results revealed that 74% of their total revenue for Q3 2011 had been generated in Europe, with 20% coming from the Asia Pacific region and 6% from the rest of the world.

Playtech chief executive Mor Weizer said: “Playtech’s diverse revenue streams have delivered a strong performance over the traditionally quieter third quarter thanks to the launch of Italian cash poker and casino products, improvements in poker revenues following the change in the market structure after the suspension of one of the largest poker operators, and the continued strength of bingo and Videobet, where the UK roll-out has now completed.

“New product launches have performed well and we are in discussions with a number of significant gaming businesses looking to utilise Playtech’s market leading technology and services. The company is also in discussions with potential joint venture partners in different regulated markets.”