Gambling Technology Firm Reports Revenue Boost

Third-quarter revenues boosted by new licences at gambling software provider.

A provider of online casino and poker software has revealed a significant rise in revenues this week, fuelled by the acquisition of new licences.

Playtech said that its nine-month total revenue to September 30th was up by 78 per cent, despite the challenging economic conditions which currently face gaming operators.

In an interview with Reuters, chief executive officer Mor Weizer said the company is still "monitoring economic conditions closely" but believes it is "well-positioned going forward".

Playtech, which signed four new licence agreements during the third quarter, has recently expanded into the Asian gaming market and last month confirmed a deal with William Hill to become the main provider of gaming software for the bookmaker.

During October, Playtech's trading was 10.6 per cent higher than the daily average for the third quarter, with early trading figures for November showing further expansion.

Mr Weizer said that about 20 per cent of the firm's revenue is now generated in non-European markets.