Playtech’s future looks bright

Business opportunities and future plans of Playtech anticipate promising development.

Playtech, one of the leading online gaming software providers in the world, has brought its players the latest releases, over the last few months’ labor. Playtech is listed on the AIM exchange and had excellent Q2 results during the three months period ended on July 30. Playtech generated revenue increases for all its games, except for Poker. Total revenues reached €39.6 millions, while casino revenues reached €27.3 millions. James Hollins of Evolution Securities expressed his firm opinion about the company, stating that Playtech keeps its place as the online gambling market’s leading software provider.

In Q2, California Online Poker Association selected Playtech join venture SciPlay for its interstate online poker platform. Also, in partnership with Casino Gran Madrid, Playtech joined the Spanish online market in May. Furthermore, a deal has been completed between Playtech and the European Partners holding company, Turnkey Services, which offers famous casinos, such as Casino Tropez. Latest developments are the result of the investments and efforts that Playtech has put into the business.

Very soon now, Playtech will buy the mobile specialist Mobenga and a 10 years licensing deal with Gala Coral. This deal is one of the biggest for Playtech, which is expected to generate a yearly €5 million profit. According to the deal, Playtech will supply all the gabling products for Gala Coral as well as the IMS platform that will support its entire range of products. Gala Coral will also join Virtue Fusion bingo network in next year’s first half and cash returns are expected by the year 2012. From all the suppliers of Gala Coral, such as Geneity, Chartwell, Evolution, Cryptologic, Inspired Gaming and others, only Geneity is to remain a supplier for Gala Coral, as Playtech’s Chief Executive Mor Weizer stated.

Playtech’s online gambling joint venture, William Hill Online, doesn’t seem to object to the supply deals that Playtech attempts to make, such as the one with Gala Coral. However it does object to joint venture deals, like the deal that Ladbrokes intended to make with Playtech.