Gambling software developer Playtech's financial report for its second full year of trading as a public company shows that all key performance indicators exceeded targets. Revenue grew to $103.6 million and net profits improved to $70 million.
Chairman Roger Withers says business growth was driven by two key factors, "geographical presence in growing markets" and "ability to deliver comprehensive best of breed solutions for our licensees."
Playtech gained 15 new licensees during the year, two of which focus on the Asian market.
CEO Mor Weizer says Playtech executed a geographical diversification strategy of developing products tailored to specific markets in 2007. "During the first half of 2007, the Group focused on converting the majority of its downloadable casino games into flash technology and introduced flash version of our bingo product, which is the preferred format in Europe and the UK sportsbook market in
particular," he said. "In addition, we completed the upgrade of the live gaming software,
a key offering for the Asian market. We also focused on the development of
Asian P2P games, the first of which we expect to launch at the end of the first
quarter of 2008."
Playtech also established strategic stakes in two Asian-facing licensees.