Playtech Revenues Up By 89% as Online Gambling Grows
Feb 6, 2012
Playtech is one of the top online gambling specialists. It designs and licenses software for the gambling industry including online blackjack, poker, baccarat, and slot machine casinos.
Playtech Ltd. just announced its strong Q4, 2011 performance as it seeks multiple opportunities worldwide. As the ban on online gambling applies only to online sports betting in the United States, Playtech is looking to take an advantage and pursue business with multiple casinos based in the country. It is also currently in talks with potential partners in the United States.
In addition, Playtech announced recent joint ventures with German and South African partners. As company CEO, Mor Weizer stated, ”Playtech is preparing itself for each and every market to make the most of the changing regulatory landscape.”
The gambling software giant is also looking to expand its offering for Mobile sports betting with its acquisition of sportsbook developer, Geneity.
As mobile casinos as well as online gaming industry continue to grow at the astounding rate, Playtech just announced 89% increase on Q4 2011 earnings compared on a year before. Casino revenues were up 13%, bingo revenues up 9%, while poker revenues declined by 2%. Overall, the revenues for Q4 approached $90 million.
The battle of online gambling software giants
The recent acquisitions and strong performance will allow the company to place itself in a better position in relation to Microgaming, its major competitor. Microgaming directly competes with Playtech for business at real money online casinos with offers that include multiple versions of casino slot and table games.
Both companies prepare themselves for mobile casino games with constant innovations and an expanded marketplace offering. This will only make online casino gambling and sports betting a more exciting venture for punters.
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