PlayTech Reports 2nd-Quarter Revenue Up 76%
In a trading update, PlayTech explained that revenues for the period were up USD 24.2 million without including US business, a substantial difference from the 13.8 million reported this time last year. Total revenue with US input included was down 5%.
Mor Weizer, PlayTech CEO said, "The group continues to invest in its new product pipeline in order to gain additional revenue streams and to maximize cross selling opportunities to its existing and future licensees."
The company has experienced growth in all business areas since the third quarter, a expects that trend to continue. PlayTech intends to increase revenue flow through diversity, planning to release new products before the end of the year.
Of the 12 new licensees, PlayTech says 8 of them have migrated from Tribeca, seeking expansion in the European market. Reports show the Asian market to be holding steady, though PlayTech has almost completed the restructuring of an Asian licensee, which they expect to cause a notable increase in Asian revenue as well.