Online gambling: Playtech reports great 3Q results

The leading online gambling software provider, Playtech Ltd., posts $26.9 million 3Q revenue.

Online gambling: Playtech reports great 3Q results British traded Playtech Ltd. (LON:PTEC), the leader in online gambling software development and distribution, has posted $26.9 million in revenue for the third quarter, or 81% higher than the same period an year ago. Accordin to Playtech, the monthly revenues now exceed those earned prior to the passage of the Unlawful Internet Gambling Enforcement Act, which ultimately cut off Playtech from the U.S. market. The casino revenue was $19.2 million, 51% increase, and the poker revenue saw even higher numbers at $7.5 or 266% up from the same period of last year.

The online gambling market in Asia is showing signs of increase, according to Playtech, with third quarter revenue from Asian licensees up 14%, compared to the European licensees, showing 11% increase in revenues. "We are very close to finalizing a new license agreement with a potentially very significant Asian licensee which will deploy player to player games," said chief executive Mor Weizer.

Published on 11/08/2007