Playtech gaming revenue surges

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