Playtech to beat expectations after bumper Q3 2014 performance

morweizer
Mor Weizer, Playtech

iGaming technology and services provider Playtech continued its strong 2014 corporate performance, as it the company announced its 2014 Q3 interim results. Playtech reported total company revenues of €116.5 million (£93 million) during the period, representing a 28.6% increase Q3 2013 – €90.6 million total revenues.

The technology provider saw increased revenues in all its product verticals (see table below). Playtech senior management stated that the period had been driven by strong player engagement throughout its verticals and igaming network.

Playtech management further reported that average daily revenue for the first 21 days of Q4/14 were up over 22% on Q4/13, marginally above the level reported so far for 2014, and up over 2% on Q3/14. Senior management at Playtech stated that they were confident of exceeding full year targets.

Q3 2014 had seen Playtech launch new casino softeware and provision partnerships with RCS Media Italia and SkyBet. Furthermore Playtech acquired Aristocrat lotteries to become the largest supplier of VLT software.

Mor Weizer, Playtech’s Chief Executive Officer, commented: “The strong growth seen through the first half continued through the third quarter resulting in the strongest-ever quarterly performance, driven by our flagship casino, including mobile and Live, sport betting, land-based revenue and services.

“During the quarter we launched innovative live casino offerings for both Skybet and RAY, along with a powerful web and mobile sport offering for the newly launched GazzaBet website for RCS Media in Italy. This represents the first phase of a full turnkey solution, and we expect to launch casino and mobile casino in due course”.

“We started to deliver on our turnkey strategy with three licensees moving their UK-facing activity to the Playtech white label structure, strengthening our position as a key provider and demonstrating the financial and operational benefits that can be achieved by using our turnkey offering.

“Looking ahead, the management team is confident of exceeding current market expectations for the full year.”

Playtech Q3 2014 Performance Overview

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