Playtech to pay out special dividend as profit rockets
Online gaming software giant Playtech has announced it will pay shareholders a special dividend of £100m (€122m/US$167m) after registering a significant rise in full-year profits for 2013.
The dividend comes as a result of the sale of Playtech’s 29% stake in William Hill Online for £424m, with other operational highlights including the agreement it signed with Ladbrokes in march 2013, the launch of live mobile casino and poker products for a number of clients across Europe and in Mexico and new sports betting brands signed and launched on the Geneity platform Playtech acquired in early 2012.
Playtech posted a 26% year-on-year rise in adjusted net profit, excluding the share of profit from the William Hill Online venture, to €148.3 million n the 12 months through to December 31.
Its flagship product casino “delivered an outstanding performance in 2013”, the group said, with revenues up 25% to €189m during the period, from €151m in 2012. The growth was generated by “a combination of organic growth, new licensees, expansion of the games portfolio, and growth from mobile and the live dealer offering”.
Reported net profit including the gain on the sale of a 29% stake in William Hill Online was €488.8 million.
Revenue was up by 16% to €367.2m while adjusted EBITDA increased by 17% to €159.4m, excluding William Hill Online. Turnover was boosted by new business wins and the acquisition of poker community PokerStrategy in July.
The special dividend payment is the equivalent of 34.1p per share.