Q4 2008 Key Performance Indicators
22 January 2009
Playtech Limited
('Playtech' or 'the Company')
Q4 2008 Key Performance Indicators
Playtech, (AIM: PTEC) the international designer, developer and licensor of software for the online, mobile and land-based gaming industry, today announces its Key Performance Indicators for the fourth quarter ending 31 December 2008.
Playtech has closed the final quarter of 2008 with record revenues and has completed two major milestones that will take the Company into 2009 with an expanded business that will steer a course through the current economic conditions.
The first of these milestones was the successful finalisation of the series of transactions with William Hill and the affiliates of Playtech. The Company was delighted to announce on 2 January 2009 that in accordance with the agreements all assets and businesses purchased by Playtech from its affiliates and other third parties were successfully injected into William Hill Online, with Playtech as its gaming software provider. Following this milestone William Hill Online successfully launched its Casino and Poker products with Playtech's software.
The second milestone of this fourth quarter was achieved when Playtech entered the regulated Italian poker market at the end of December. Current results indicate that the Italian poker network has proven to be significantly revenue enhancing and above management's expectations.
Commenting on the KPI's Playtech's Chief Executive, Mor Weizer, said: "Once again we have enjoyed a successful quarter both operationally and strategically as we continue to grow the business and make the most of the opportunities presenting themselves. We are particularly pleased with how smoothly the integration of the William Hill joint venture has progressed, which bodes well for this important strategic Company development. The Company has met management's demanding expectations and we are confident that Playtech will meet its targets for the full year."
Financial highlights
-
Revenue for the whole year of 2008 totalling €111.5 million, representing an increase of 70% on the €65.7 million in 2007;
-
Revenues for the quarter totalling €31.5 million, representing an increase of 52% on the €20.8 million in Q4 2007 (Q3 2008 €28.4 million);
-
Casino revenues totalled €22.1 million, an increase of 52% from €14.6 million in Q4 2007 (Q3 2008 €20.5 million);
-
Poker revenues totalled €8.6 million, an increase of 43% from €6.0 million in Q4 2007 (Q3 2008 €7.6 million); and
-
The Company's share of players' income from Asian facing licensees during the period grew by 26% from Q3 2008 whilst the share of income from European licensees grew by 11%.
Revenues
| Three months ended '000 (€) | 31 Dec 08 | 31 Dec 07 | Change | 30 Sep 08 | Change |
Total Revenues | 31,452 | 20,751 | +52% | 28,410 | +11% |
Casino Revenues | 22,137 | 14,541 | +52% | 20,498 | +8% |
Poker Revenues | 8,559 | 5,973 | +43% | 7,564 | +13% |
Share of geographical diversity[1]
| Three months ended | 31 Dec 08 | 31 Dec 07 | 30 Sep 08 |
Europe | 66% | 72% | 69% |
Asia Pacific | 28% | 20% | 25% |
Rest of the World | 6% | 8% | 6% |
Nominal change in geographical regions
| Period | Q4 07 to Q4 08 | Q3 08 to Q4 08 |
Europe | +60% | +11% |
Asia Pacific | +141% | +26% |
Rest of the World | +38% | +21% |
Annual Key Performance Indicators at 31 December 2008
Revenues
12 months ended '000 (€) | 31 Dec 08 | 31 Dec 07 | Change |
Total Revenues | 111,450 | 65,665 | +70% |
Casino Revenues | 79,396 | 47,370 | +68% |
Poker Revenues | 30,073 | 17,392 | +73% |
Geographical diversity
Share of geographical diversity[1]
| 12 months ended | 31 Dec 08 | 31 Dec 07 |
Europe | 70% | 71% |
Asia Pacific | 24% | 21% |
Rest of the World | 6% | 8% |
Nominal change in geographical regions
Period | 12M ended 31 Dec 2007 to 12M ended 31 Dec 2008 |
Europe | +80% |
Asia Pacific | +113% |
Rest of the World | +44% |
[1] The share is calculated as the total players' income derived from the specific region divided by the total players' income from all regions
Playtech expects to issue its full year results on 19 March 2009.
All financial results mentioned herein are subject to audit.
- Ends -
For further information contact:
Mor Weizer, CEO, Playtech Ltd Shuki Barak, CFO, Playtech Ltd c/o Bell Pottinger Corporate & Financial |
Tel: +44 (0) 20 7861 3232 |
Piers Coombs / Bruce Garrow Collins Stewart | Tel: +44 (0) 20 7523 8000 |
Mumtaz Naseem Deutsche Bank | Tel: +44 (0) 20 7545 8000 |
David Rydell / Olly Scott / Helen Tarbet Bell Pottinger Corporate & Financial | Tel. +44 (0) 20 7861 3232 |
About Playtech
Playtech develops unified software platforms for the online and land based gambling industry, primarily targeting existing online operators wanting to upgrade their system; sportsbooks looking to diversify and land-based operators making their online debut. Playtech gaming applications - online casino, poker, bingo, mobile gaming, live gaming, land-based kiosk networks and fixed-odds games - are fully inter-compatible and can be freely incorporated as stand-alone applications, accessed and funded by players through the same user account and managed by the operator by means of a single powerful management interface. Founded in 1999, Playtech has over 750 personnel distributed globally, around seventy five percent of whom are engaged in research and development of current and future gaming technologies.
Website: www.playtech.com
This information is provided by RNS
The company news service from the London Stock Exchange
