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Earnings

Earnings: Online Gambling Vendor Playtech Posts 24 Percent Income Lift

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The online content industry may be suffering, but the business of digital gambling appears to be in much better health as the recession drags on. Dublin-based Playtech on Wednesday announced “gross income” of €98.8 million (£89.3 million) in Q3—a 24 percent year-on-on year rise but a four percent decline on Q2—and EBITDA of “at least” €66 million (£59.6 million). Actual revenues were stable period-on-period at €27.7 million (£25 million).

SEE ALSO: Gambling Software Maker Playtech Hints Further Buys To Follow William Hill JV

The company spent $250 million in November last year for 29 percent of William Hill’s online division, creating the William Hill Online JV—WHO made €4.2 million (£3.79) for Playtech in the quarter, which is lower than than expected due to “a run off unusual sports results”. Playtech is continuing to develop is poker business in Italy—following the legalisation of online card games there—and in Q4, Playtech plans to launch new bingo and casino products, 15 more games using a licence from Marvel (NYSE: MVL) and two iPhone games. Release.

Oct 22, 2009 4:35 AM ET

One of Playtech's online poker games


Posted In: Entertainment, Games, Money, Earnings

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