Playtech posts big rise in turnover
Playtech has posted a significant increase in full-year turnover after citing a strong performance by its gaming division.
Gaming revenue rose by 21 per cent, helping total revenue to increase by 12.5 per cent to €708.6m ($747m) for the year through to December 31, 2016 – up from €630.1m the previous year.
The company, which provides software for sports-betting and online casino, also reported a 20-per-cent increase in earnings before interest, tax, depreciation and amortisation to €302.2m, and a marginal rise in like-for-like net profit to €206.2m.
"Playtech has continued to successfully execute its strategy for strong operational and financial performance, strategic M&A and shareholder returns,” Playtech chairman Alan Jackson said.
"The gaming division once again delivered very strong growth. Sports saw a good second-half performance following the acquisition of BGT with the newly-formed Playtech BGT Sports bringing together all aspects of the Playtech's sports offering creating a fully-integrated, best-in-class sports betting technology.”
"Management remains confident of a strong performance in 2017 and beyond."
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