Playtech announced report for first half

Playtech, one of the net’s larger gaming companies that focuses on software development and games, has just released the results for its first half of 2013. The report that was released shows that a noticeable increase in revenue and income.

The report shows that the overall gross income for Playtech came in at €194.8 million. This was an increase in revenue of 10.1% for the company. The total earned revenue was also increased by 15.1% to €176.9 million. There was an adjustment made to the EBITDA by 2.9% relating to €78.7 million and an adjustment in net profit for the half came in at 0.5% for €83.9 million.

The report showed that Playtech have a positive cash flow in the amount of more than €570 million which is a substantial increase from the same period in 2012. Playtech mentioned that the agreement they made with Ladbrokes was a highlight of the first half as was the acquisition of PokerStrategy.com. The migration of Betfair to the iPoker network has been complete and Playtech also launched their new bingo product during the first half of the year.

Roger Withers, Chairman of the board at Playtech was quoted as saying “Playtech has again shown our tenacity and goal oriented drive and this is evident by the results we have posted for the first half of the 2013 year. We have strengthened our relationships with our licenses and have increased our product lineup that they are able to offer to their customers”

He continues by saying” As the year progresses we will be focusing efforts on our mobile side of business and seeing the investments we have made in this new emerging side of business grow. He reported a dividend paid of 7.5 cents euro”

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