Isle of Man-based Playtech Limited, the international designer, developer and licensor of software for the online, mobile and land-based gaming industries, has announced its financial results for the third quarter showing a 67 percent rise in revenues.
Revenues for the third quarter totalled $42.4 million, which was up from the $26.9 million declared for the same period last year and a six percent rise on the $42.4 million achieved in the second quarter of 2008.
Casino revenues totalled $26 million, a 69 percent increase from the $15.2 million seen in the same period in 2007 and a five percent rise on the $24.6 million earned in the previous quarter. Revenues from poker grew by 60 percent from the same period last year to $9.5 million, which also represented a nine percent rise on the $8.8 million achieved for the second quarter of this year.
'This has been another strong quarter for the group in what is traditionally the slowest period of the year,” said Mor Weizer, Chief Executive Officer for Playtech.
“The addition of new licensees combined with organic growth during the period has resulted in continued growth across all business divisions. Combined with the strong November start, the board believes that Playtech is well positioned for further growth during the remainder of the year and into 2009.
“Notable during the period was the groundbreaking sale of certain assets and businesses to William Hill as well as signing them as a new licensee. Playtech is excited to be working with a company with the scale and breadth of William Hill in what we believe will be very significant deal for Playtech. The transaction is the first in a number of other potentially significant earnings enhancing affiliate acquisition opportunities.”