Playtech praises ongoing strategy as revenue jumps in first quarter
Gaming software and services supplier Playtech has cited the ongoing impact of its operational and financial strategy as the main reason behind a year-on-year jump in revenue during the first quarter of 2015.
Total revenue for the opening period of the year amounted to €134.9 million ($146.5 million), up 31% from the €102.7 million posted in the corresponding quarter last year.
The amount achieved in the first quarter of this year is also up 7% on the €126.2 million in the final three-month period of last year.
Playtech’s casino business remains its most active arm, having generated €70.9 million of the total revenue figure, up 28% on the previous year.
However, the company’s land-based operations experienced the most growth in the quarter, with revenue of €8.3 million up 198% on the amount posted in the same period last year.
Playtech’s services, sports and bingo divisions also experienced growth, with the firm’s poker operations the only area to suffer losses, with revenue down 17% year-on-year to €3.2 million.
Mor Weizer, chief executive officer of Playtech, said: “Playtech has seen a strong start to 2015 with continued execution against our strategy which has delivered both on an operational and financial basis.
“We have signed new licensees, furthered our relationship with existing licensees and continued to lead industry innovation, including launching an app for the Apple Watch on the day it was released, and saw further progress with Playtech ONE initiatives.
“We also announced two important strategic transactions with the acquisition of TradeFX, an online CFDs and binary options broker and trading platform provider which is highly complementary to Playtech's existing business and Yoyo Games, enhancing our social gaming offering.
“The strong start we have made to the year, together with the progress we continue to make in all aspects of the business both on an organic and inorganic basis, gives me great confidence in our ability to deliver strong growth in 2015 and beyond.”
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