LONDON, U.K. – Online bingo software and network provider Playtech has had a successful first six months of 2010 with gross income up by over 30 per cent to €87.9million. The company has also been busy forging new partnerships this year; with the acquisition of Virtue Fusion and a deal in place with William Hill, Playtech is going from strength to strength.
The acquisition of bingo provider Virtue Fusion cost Playtech €37.7million and has generated €4.5million of revenue in the four months that Playtech has owned it. It also means that Playtech has the biggest network in the industry enabling sites on the network to offer greater prizes and more attractive promotions to its players. Virtue Fusion is one of the leading players in bingo software provision and gives Playtech the opportunity to make inroads into the online bingo markets in the UK and abroad. This includes the recent launch of an Italian bingo site.
The acquisition of Virtue Fusion means that Playtech now controls such established bingo sites as Crown Bingo, Mecca Bingo, William Hill Bingo and Virgin Bingo.
Playtech’s partnership with William Hill was most lucrative with a busy World Cup giving the company a €15million share of the profits from its online only partnership. The profit share received by Playtech was up by over 45 per cent on the previous year.
Playtech has also announced that future licences with Betfair Casino in the third quarter of 2010, RAY in Finland at the end of the year and Casino Gran Madrid in early 2011 are all on target to launch.