ISLE OF MAN – Playtech, the gaming software designer and developer listed on the London Stock Exchange’s AIM (PTEC), recently announced its Q2 results which saw the company significantly grow in terms of revenues.
In a statement released to media on the company’s Q2 performance, Playtech announced that it had achieved revenues of US$42.4 million which was a 75% improvement over the same period in 2007. Year to date total revenues for the Isle of Man-based gaming company increased by 85%.
Playtech’s casino and poker revenues for Q2 2008 significantly increased over the same period last year. Casino revenues for Q2 of this year totaled US$30.8 million as compared to US$27.2 million last year, representing a 77% increase. For poker, revenues this year’s second quarter totaled US$11 million which was a marked 75% over the same period last year.
In total, revenues for Playtech represented a 75% over last year the same period, from US$24.2 million to US$42.4 million this year.
Aside from financial success this second quarter, Playtech also announced several operational highlights in its results.
The company raised £112million before expenses by placing 21,620,946 new ordinary shares on the market at the price of 520 pence per share.
It also signed 10 new licensees to its products including Betsson, Vista Global Limited (Hollywood Poker) and Genting Stanley Alderney.
Playtech also signed agreements with leading Italian operators thereby assuring Playtech of a presence in Italy where it is already making inroads with a planned poker network for Italian players.
It expects continued strong performance which is in line with expectations for the remainder of this year.
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