INCREASED REVENUES IN PLAYTECH'S SECOND QUARTER

(178) (27-jul-06)

Trading update shows 133 percent revenue growth

Playtech second quarter results were looking buoyant in the online casino software provider's trading update released this week, with revenues for the quarter exceeding the same period last year by 133 percent.

Total revenue was up 22 percent on quarter one 2006, reaching $25.4 million. Looking at the component parts, online casino revenues (mainly royalties) rose 121 percent over the same period last year, up 21 percent on the first quarter 2006 to $22 million.

Poker revenues showed stellar growth of 701 percent over the same period in 2005, up 30 percent on quarter one 2006 to $2.7 million.

Playtech spokesmen pointed out that the strong results are especially noteworthy given the traditional slowdown during the second quarter. 

Avigur Zmora , CEO of Playtech said: "Playtech has shown very strong growth over the past quarter. Both casino and poker revenues continue to grow and our policy of geographical diversification continues on track. It is also very encouraging to see the progress in our development pipeline. We look forward to the second half of the year with confidence."