Playtech records 33% H1 revenue growth as regulated market activity pay dividends

Following a period of concentrated acquisition activity in the financial services sector, igaming technology and provisions provider Playtech Plc has announced its unaudited Interim H1 2015 results (period ending 30 June), recording growth on all key performance metrics .

Playtech H1 2015 performance overview

The FTSE 250 listed company, saw a revenue rise of 33% to €286 million (H1 2014 – €214 million), as it recorded strong growth in all operating regions and from new and existing clients.

Detailing further insights Playtech reported that its corporate strategy of focusing on regulated markets had paid dividends, with 40% of H1 revenues generated from regulated market operations.  

Playtech governance noted that the company had created a strong commercial pipeline, which would give it access to significant opportunities across multiple regions. Governance would highlight its £75 million technology and marketing services agreement with Ladbrokes and Gala Coral, should the operators complete their planned merger.

H1 2015 saw Playtech create its financial services division through a series of M&A’s, as the technology provider looks to further diversify its client portfolio and product services. During the period Playtech has successfully integrated TradeFX operations, now called Markets Limited, corporate governance noted that the firm expected to complete the acquisitions of Ava Trade and Plus500 by end of September.

Playtech’s current trading outlook remains very positive as daily revenues for igaming services are up 15% on its corresponding Q3 2014 period. The continued strong momentum of its services within the igaming sector sees Playtech governance confident of hitting all 2015 corporate targets

Alan Jackson, Chairman of Playtech, commented:

“We have made significant progress against all aspects of our strategy during the first half of the year. We have completed a series of strategic acquisitions to create and enhance our new Financials division, a high-growth and regulated industry, and our continued operational delivery across all business segments has translated into a strong financial performance across all key metrics, with revenues up by a third in the half year.

“Our Gaming business continues to go from strength to strength with our strategy of focussing on regulated markets driving growth. Our pipeline remains strong, with significant opportunities across all geographies, as customers seek to benefit from our market-leading omni-channel offering and our best-of-breed products in each and every product category.

“Taken together, the progress we have made gives me great confidence that the sustained momentum in our business will result in further growth in 2015 and beyond.”