LONDON – Playtech, one of the biggest online bingo software providers, has released details of its financial results for the third quarter of 2010. Total revenue was up 17 per cent compared to the same period in 2009 to €32.5 million. Total revenue for the first nine months of this year reached €105.4 million, up 25 per cent on last year.
Bingo continues to perform well for Playtech as did its online casino operations and William Hill Online. The performance of these key parts of the Playtech business were more than enough to cover the poor performance of Playtech’s poker offerings.
Thanks to strong growth from recently acquired bingo software provider Virtue Fusion and an Italian Bingo licence, Playtech bingo revenue increased 11 per cent compared to the second quarter of this year. Playtech’s share of the profit in William Hill Online more than doubled compared to the same period last year from €4.2 million to €8.8 million.
Mor Weizer, CEO of Playtech said, “The recent launches of Betfair casino and our Italian Bingo licensees have performed very well from soon after launch, and will be joined by RAY [the Finnish monopoly] in the coming months.I am also encouraged by discussions with a number of notable operators which should deliver a strong pipeline across the product range.”
Playtech also announced that early indications suggest that performance in quarter four is looking good and is already 25 per cent ahead of last years figures.