The developer of software for the gambling industry reported a very strong start to 2006 with revenues ahead 147% to $20.7m on the same period in 2005 and the number of licensees up to 39 from 31 year on year.
Playtech\’s Casino offering, currently the main revenue generator, made a strong contribution, growing 136% on Q1 2005 and 34% on Q4 2005, while particularly encouraging was the progress in the contribution from Poker, up to $2m from $166,000 a year before.
“During the quarter, which has included the Company\’s IPO, we have significantly increased revenues across all of our sectors, both year on year and compared to the previous quarter. Based on this increase, and the underlying growth of existing clients, we are delighted to have traded in the first quarter of 2006 ahead of market expectations,” commented Avigur Zmora, CEO of Playtech.
“It is particularly encouraging to see that our drive into the exciting and fast growing Asia Pacific market is showing clear results. Revenue contribution from this region has more than doubled within the year whilst US players this quarter contribute approximately 50 per cent of revenues, down from 67 per cent this time last year. This clearly illustrates the ongoing success of our strategy to create a more balanced geographical business portfolio,” added Zmora.
Elsewhere, Easybets launched a Live Baccarat solution in conjunction with Entertasia Technology, a Chinese software company already serving Victor Chandler. Entertasia Technology CEO Jason Chan hopes their Chinese background will give them the edge in the Asian market, “If you eat Chinese food, you would eat with chopsticks and not fork & knife. We designed this Live Baccarat software based on the Asian mind set, understanding Asian gambling behaviour is one of the most important elements,” he said. “Quite a number of European companies eye on Asia, compared to a few years ago, in order to lead to guaranteed success; they know they need local product that meets local players’ demand.”
Calculators
