Playtech Posts 17.4 per cent Q1 Revenue Growth

Playtech, the UK listed gaming technology and services provider that powers several popular online casinos that include City Club Casino, Bet 365 Casino, Crown Europe Casino and Fly Casino, has reported strong growth for the first quarter of this year, with its total revenue climbing by 17.4 per cent year on year, despite the fact that it has seen a fall in Poker and Bingo.

Playtech’s total first quarter revenue that was € 87.5m a year ago amounted to € 102.7m this year with its Casino and Sports sections delivering growth of 25.6 per cent and 21.7 per cent respectively compared to the first quarter of 2013.

The company’s Services section climbed 12.9 per cent to € 29.7m although the rate of growth was increased by the inclusion of PokerStrategy.com revenue from July of last year.

According to Mor Weizer, the Chief Executive at Playtech, the company credited its strong start to this year to its varied licensee base. Weizer added that the two most significant achievements of the first quarter were the completion of the roll out of their multi-channel solution to Coral retail outlets as well as the migration of the entire Ladbrokes online gaming offer onto the Playtech platform that was followed by Ladbrokes adopting their IMS as the infrastructure for its entire betting and gaming operations.