Playtech in Local Focus for 2011
Software provider Playtech announces solid results for the third quarter and intentions to concentrate on partnerships with local operators for 2011. Playtech, one of the leading companies dealing in online gaming software, has detailed strong results for the third quarter of 2010. Playtech's gross figures show a 30% increase in comparison with the same period in 2009. Gross revenue for the first three quarters of 2010 demonstrates a 31% rise up to ₤112.13 million, while total revenues have increased by 25% to ₤91.48 million. It appears that the main part of this increase is due to income from the William Hill online operations. In addition, indications from October seem to show a continuation in growth compared with the 4th quarter of last year. Playtech's intentions for 2011 include concentrating on partnerships with local operators. According to Mor Weizer, Chief Executive of Playtech, the company expects to announce 10 additional new licenses. The majority of these will be poker licenses, but will also involve casino and bingo operations. Playtech will be looking towards newly regulated markets, such as in France and Italy. It is believed that there are opportunities in the French market particularly in the line of poker and sports betting and in Italy, advances are expected in online casino and poker entertainment at the beginning of 2011. It seems that Playtech will be keeping an eye on developments on these markets and working on arrangements with the local operators.