Industry News: Poker Pushes Playtech to Record Revenues

Playtech, the publicly traded designer, developer, and licensor of software for the online, mobile, and land-based gaming industry, today announced its trading update for the third quarter and the first nine months of 2007 with poker revenues totaling $7.5 million, up an impressive 266 percent from $2.1 million in Q3 2006.

The company said in a statement, "This has been an outstanding quarter for the group, which has registered impressive month-on-month revenue growth. This has continued into October, which has recorded the group's highest-ever monthly revenue figure, significantly higher than September's revenues.

"The successful migration of Bet365 Poker during October, in addition to the organic growth of the company's existing licensees, is resulting in strong poker growth in Q4."

Overall, a record $26.9 million in revenue was generated by the company, representing growth of 81 percent on the $14.9 million in Q3 2006.

Casino revenues hit $19.2 million, an increase of 51 percent from $12.6 million in Q3 2006.

Mor Weizer, chief executive officer, said, "We are delighted with this quarter's record-breaking figures, which clearly demonstrate the growing strength and presence of Playtech within the global gaming sector. The company continues to focus on adding successful and high-profile licensees, such as Bet365, and also on growing its market share in Europe and Asia."

Among the company's poker clients are Blue Square and Paddy Power Poker. Its share price was up 3.31 percent at noon today.

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