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Playtech gaming revenue surges

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The Isle of Man-based gaming software, systems and services supplier Playtech reported an increase in gaming revenues last year. However, figures for Asia is not as impressive, because the increased competition is having an adverse impact on figures.

“Management is taking steps to protect its position in the region and drive revenues,” Playtech said in a statement yesterday morning, having made what it termed “significant progress” on its strategy in 2018 both on an organic and inorganic basis.

Playtech also declared that after the acquisition of Snaitech, the company is seeking further M&A opportunities.

“As announced earlier this year, new sports and casino agreements have been secured, including with SAS in Portugal and Totalizator Sportowy in Poland, which will deliver significant long-term growth opportunities,” Playtech stated.

“The acquisition of Snaitech, announced in April, will create the first vertically integrated gambling operator in Italy and provides material earnings accretion. Taken together, these strategic initiatives will materially increase the proportion of Playtech’s regulated revenues and improve the diversification of the business.”

Source: intergameonline.com

Niji Narayan has been in the writing industry for well over a decade or so. He prides himself as one of the few survivors left in the world who have actually mastered the impossible art of copy editing. Niji graduated in Physics and obtained his Master’s degree in Communication and Journalism. He has always interested in sports writing and travel writing. He has written for numerous websites and his in-depth analytical articles top sports magazines like Cricket Today and Sports Today. He reports gaming industry headlines from all around the globe.

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