Thursday 14 November 2019

Playtech collects from casino games in first half with 64pc earnings rise

ONLINE gaming software group Playtech posted a 64 percent rise in first-half core earnings on Thursday helped by demand for bingo products and casino games like blackjack, roulette and slots.

Playtech, which moved to the main list in July, develops software platforms for online and land-based games for clients including Paddy Power and Gala. It also has a 29 percent stake in William Hill Online, the future of which it is discussing with William Hill.



The group reported adjusted earnings before interest, tax, depreciation and amortisation of 91.2 million euros ($114.25 million) for the six months to end-June on total revenues which doubled to 153.8 million euros.



It said it had made a strong start to the third quarter, a traditionally quieter period, with daily average revenues up over 25 percent versus the comparable period.



"The directors look forward to the full year outcome with confidence, but are mindful of the impact of the regulatory changes in the Spanish market and the increased costs associated with various software development initiatives, including mobile and social gaming," the company said in a statement.



It is paying an interim dividend of 7.8 euro cents per share. ($1 = 0.7982 euros)

Reuters

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