Playtech continues its strong 2015 momentum with 47% Q3 revenue rise

Issuing a Q3 2015 trading update, Playtech Plc announced metric growth in all key verticals (apart from online poker), as the FTSE listed gambling technology provider recorded a 47% rise in group revenues to €170.9 million (Q3 2014: €116.5 million).

The gambling technology provider continues its strong 2015 momentum, recording 21% revenue uplift to €75 million for its online casino division (Q3 2015: €62.4 million). Group growth was further supported by an 18% gain in its client ‘services’ division to €40 million (Q3 2015: €34 million).

Detailing corporate performance, Playtech governance reported strong growth in new and existing business with 73% growth in regulated market activity. Regulated market operations accounted for over half of group revenues in the quarter, contributing over 40% of Gaming revenues from regulated markets (35% in Q3 2014)

The quarter would see further gains in mobile play which accounted for 23% of group software revenues, up 17% on Q3 2014 performance.

The company would incorporate performance of its new ‘financial trading’ division (officially set up in May) which contributed €27.5 million in quarter revenues.

Playtech governance continues to await for regulatory approval of its Plus500 acquisition, governance expects the deal to be approved by the end of November

Following another strong quarter, Playtech governance stated that it was confident of hitting 2015 targets as the company had created a ‘strong pipeline of opportunities’.

Mor Weizer, Chief Executive Officer of Playtech, commented:

“Playtech delivered a strong operational performance in the third quarter with reported growth of 47% and underlying growth of 17%. Three quarters of our growth in Q3 came from regulated markets which now account for over half of all group revenues.

“Our Gaming division continues to enjoy double-digit underlying growth with our strong pipeline of opportunities giving us confidence in maintaining our momentum. Our Financials division had a strong quarter driven by customer acquisition, with a focus on our direct marketing channels, and we hope to complement our growth with the completion of the acquisitions of Plus500 and Ava Trade.

“Given the strength of our business and the momentum that we are enjoying, we have confidence for the remainder of 2015 and beyond.”

Playtech Q3 2015 Performance Overview