Playtech Announces Broken Records With 2012 Financials
February 20, 2013
When a major online casino software company or online casino operator posts their financial results for the world to see, it's a sign of two major things. First, it shows that they are a high-class operation that is trying to remain as transparent as possible with its financial dealings. Second, it helps to give indicators of where the industry as a whole may be heading. Almost all of the top companies release their financial results each quarter and at the end of the year, and Playtech is no exception. This time, they're announcing some broken records as well.
In the last quarter of 2012, Playtech had a gross income of €98.8 million. At just under 100 million euros, this was a 26 percent increase from the gross income of the fourth quarter of 2011. Their total revenues also took a big leap of 20 percent at a total of €83.9 million during this quarter. What's really amazing about this is that for 2012 overall, Playtech had a 51 percent increase in gross income when compared to 2011. This is an absolutely enormous and impressive number that breaks their records for their best growth ever.
Playtech CEO Mor Weizer said, "Playtech has again delivered an exceptional fourth quarter performance enhanced by William Hill Online's record quarterly profit and the significant growth in software revenues with casino, services and bingo demonstrating double-digit increases. The company received robust organic growth and benefited from innovative cross-selling initiatives with several major licensees. Playtech's new product and licensee launches, together with the launch of slots in Italy, have exceeded expectations and build further on the company's solid growth platform. I am also pleased to announce that our joint venture with Gauselmann has been awarded licenses by Schleswig Holstein for online casino and sports betting."
Playtech has been one of the top two online casino software companies for several years. Recently, they have expanded into several newly-regulated markets, and this has given them tons of opportunities to experience growth. Their joint venture with William Hill Online has seen them get dragged into a lot of controversy over the past 24 months, but they are still holding their position as one of the two leaders of the online casino software industry. While 2012 was a record year for Playtech, it will be interesting to see if they can hold their position during 2013.