Playtech (PTEC.L) leader in online/mobile gaming and sports betting software supplier, announce third quarter results with record revenue of €116.5 million.
After a strong performance in the 3rd quarter, Playtech target to beat market expectations and have a powerful 4th quarter towards a powerful year.
Playtech chief executive officer, Mor Weizer stated “strongest-ever quarterly performance” for the the online gaming software giant.
Among the the quarter highlights: the launch of Skybet Casino and Live Casino products, Launched of Trinity Mirror Casino, Acquisition of 33.3% stake in BGO Casino, Acquiring Aristocrat Lotteries and Contract renewal of William Hill bingo product.
Boosted by the casino business and the strong World Cup sports betting, yielded total revenue hit €116.5 million in the three months to 30 September, up 28.6% on the same period last year.
Most of Playtech’s revenue came from the Casino business contributing €62.4 Million with is an uplift of 33.3% on 3rd quarter in 2013. The Sport Business had the biggest uplift of, 108.8% on the same quarter last year and reached €7.1 million.
Playtech also experienced that while the percentage of revenue generated in the European region dropped by about 8% in the quarter, it gains share in the Asian market. Asia was responsible for 36% of all revenue compared to 25% in the same period last year, while Europe leads with a share of 56% of the total, down from 64% in Q3 of 2013.
Summarizing the impressive set of results and full year forecast, Weizer said: “Looking ahead, the management team is confident of exceeding current market expectations for the full year.”