Playtech, Best ever Q3 Performance. Confident of Beating full Year Forecasts
October 22, 2014 10:51 am
Playtech (PTEC.L), the online gaming and gambling software supplier today announced a strong performance in Q3 coupled with a revised forecast as strong performance carries on into Q4.
The firm was boosted by world cup sports betting and casino and total revenue for the Q3 period was £116.5M, up 28.6% on the same period last year. A best ever quarterly performance for the company.
Also announced was strong performance carried into Q4, average daily revenue for the first 21 days of Q4/14 is up over 22% on Q4/13, marginally above the level reported so far this year, and up over 2% on Q3/14.
Mor Weizer, Playtech‘s Chief Executive Officer, commented: “The strong growth seen through the first half continued through the third quarter resulting in the strongest-ever quarterly performance, driven by our flagship casino, including mobile and Live, sport betting, land-based revenue and services.
During the quarter we launched innovative live casino offerings for both Skybet and RAY, along with a powerful web and mobile sport offering for the newly launched GazzaBet website for RCS Media in Italy. This represents the first phase of a full turnkey solution, and we expect to launch casino and mobile casino in due course.
We started to deliver on our turnkey strategy with three licensees moving their UK-facing activity to the Playtech white label structure, strengthening our position as a key provider and demonstrating the financial and operational benefits that can be achieved by using our turnkey offering.
Looking ahead, the management team is confident of exceeding current market expectations for the full year.”
Playtech (PTEC.L), the online gaming and gambling software supplier today announced a strong performance in Q3 coupled with a revised forecast as strong performance carries on into Q4.
The firm was boosted by world cup sports betting and casino and total revenue for the Q3 period was £116.5M, up 28.6% on the same period last year. A best ever quarterly performance for the company.
Also announced was strong performance carried into Q4, average daily revenue for the first 21 days of Q4/14 is up over 22% on Q4/13, marginally above the level reported so far this year, and up over 2% on Q3/14.
Mor Weizer, Playtech‘s Chief Executive Officer, commented: “The strong growth seen through the first half continued through the third quarter resulting in the strongest-ever quarterly performance, driven by our flagship casino, including mobile and Live, sport betting, land-based revenue and services.
During the quarter we launched innovative live casino offerings for both Skybet and RAY, along with a powerful web and mobile sport offering for the newly launched GazzaBet website for RCS Media in Italy. This represents the first phase of a full turnkey solution, and we expect to launch casino and mobile casino in due course.
We started to deliver on our turnkey strategy with three licensees moving their UK-facing activity to the Playtech white label structure, strengthening our position as a key provider and demonstrating the financial and operational benefits that can be achieved by using our turnkey offering.
Looking ahead, the management team is confident of exceeding current market expectations for the full year.”
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