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The British supplier of gambling technologies Playtech announced its half yearly results with a fall in profits by 38%.
Total sales excluding Asia were up 35% on a reported basis, but with Asia included in overall revenue figures, a modest 6% increase was registered to €436.5m from €421.6m. Additionally, whilst the B2B Gaming Division’s average daily revenue for the first 52 days of the third quarter was down 13%, excluding Asia would have led to the division posting a 6% increase.
Alan Jackson, Chairman of Playtech, commented: «Playtech has had an extremely busy first half of the year with important operational progress and new licensee wins in key strategic markets, the UK, Europe and Latin America. This continued progress is resulting in higher quality earnings for Playtech with Group revenue now 69% regulated. Following headwinds in Asia and a full year contribution from the landmark Snaitech acquisition, regulated revenue at current run rate is expected to be 80% in 2018».
Playtech CEO Mor Weizer explained: Playtech has identified key markets in Europe and Latin America which have the potential to increase their online penetration of gaming revenue and where Playtech’s regulated markets focused capabilities have an advantage. These markets are the focus for increasing Playtech’s scale and distribution through signing new licensees.
Looking towards 2019, licensing regimes are expected to be introduced in major European countries including the Netherlands, Sweden, Switzerland and some commentators expect significant steps forward in Germany”.
