Playtech Gaming Solutions in favourable first quarter rise
28 April 2015
The Online gaming group Playtech has forecasted strong expected growth in 2015, with revenue exceeding in the first quarter. A favorable revenue rise of 31% year-on-year to €134.9 million euros which represented a 6.9% increase from the previous quarter, is due to the driven performance from its casino and services divisions. A constant currency base have seen revenue rise to 16% due to the significant weakness in the euro currency market.
The Software and services provider for online, mobile, and land-based gaming industry, has indicated to be confident in the exceptional strong growth this year with their average daily revenue up 25% for the second quarter. Casino revenues shows a distinctive rise of 31% and 28% respectively in the market place, while land- based revenues show a remarkable rise up 198%.
Northland Capital analyst, Michael Campbell advised that revenue growth has accelerated since its full-year results and the revenue success that can be contributed to the convenient currency factors. Mr Campbell further advised that investor uncertainty over the political outcome of next month’s United Kingdom elections, will also be weighing on respective stock trading, with the Isle of Man headquartered Playtech in focus amid a broader concern with regards to the increased tax regulations now being implemented across the British Gambling industry. While Playtech is primarily a gaming technology company, it will be affected by the Point of Consumption Tax (POCT) which will be implemented and passed throughout the gaming industry and seeing it having in place licence contracts with operators William Hill and television Giant, Sky. The new passed Point of Consumption Tax (POCT) bill, has brought gaming operator and bookmaker William Hill PLC under the initial line of fire from the gaming industry.
Playtech’s chief Excutive, Mor Weizer commented in saying that Playtech has seen an immensely strong start to 2015 and will remain exceptionally acquisitive. An analyst from Goodbody,Gavin Kelleher mentioned that Playtech’s revenue performance is in the lead of broker’s expectations, which showcases robust trading. It is safe to say that Playtech, the world’s largest online gaming software supplier has certainly lived up to the expectation of a excelling market share growth stability and technology sustainability in the market of gaming solutions.