Playtech Sees Phenomenal Growth
By Staff
Fourth quarter revenues for Isle of Man-based Internet gambling software firm Playtech Ltd increased 101 percent to $32.7 million compared with last year’s figures.

A statement from the firm revealed that the figures ‘exceeded management expectations’ with the company ‘highly confident’ for 2008 as it saw month on month revenue growth throughout last year.

Sites such as Bet365, Victor Chandler and Blue Square use Playtech’s poker and casino software and it rapidly rebuilt its business with European and Asian online betting sites after the passage of America’s Unlawful Internet Gambling Enforcement Act (UIGEA) in October of 2006 that effectively banned online gaming.

Revenues from its core casino games software grew 72 percent to $22.9 million in the final quarter of 2007 with revenues from its fast-growing online poker software rising to $9.4 million, an increase of 265 percent.

Playtech revealed that European licensees contributed 72 percent of revenues and remained the biggest earner with a 23 percent quarterly growth while Asia contributed 20 percent. By way of comparison, Europe earned 57 percent of revenues for the same period in 2006 while Asia and Oceania contributed 26 percent.

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