Playtech, a reputed software developer and turnkey provider in the arena of online gambling made handsome profit margin this week almost doubling pre-tax profit numbers.
The company’s full year results yielded an 89 percent rise in total revenues to US$90 million (2005: US$47.6m). Pre-tax profit rose to $60.8 million from $35.7m of the year 2005.
If we break down the revenues in to specific categories, 81 percent increase in online casino revenues & huge 309 percent growth in Internet poker revenues are observed. There is a huge 143 percent growth is seen in annual revenue excluding US contributions. A steep rise from US$22.8m to US$55.6 million is experienced.
According to the revenue report, Eastern Europe & Asia has contributed a lion’s share in the increased revenue. This company has targeted to explore the big Asian market following the US ban in online gambling. This company has introduced many new products to attract new brunch of customers.
The report also mentioned, "The group's broad international portfolio of clients, especially in Asia and Europe, meant that the impact of the prompt withdrawal by its licensees from the US market was greatly reduced".
Playtech CEO Avigur Zmora made a statement;” We look forward into 2007 with great enthusiasm and expect it to be a year of further growth”.
March 3, 2007, 11:12 am (1 year ago)
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