Large Revenue Increase
Large Revenue Increase The world of Internet gambling is growing and that means the companies that provide the software for these online casinos have to be growing as well. Third quarter results from Playtech back that fact up. Their revenue has increased sixty seven percent from the same period last year.

Playtech is a developer, designer, and licensor of software for the online gaming industries. They also provide software for land based casinos and mobile devices. The company was happy with the results from the third quarter.

"This has been another strong quarter for the group in what is traditionally the slowest period of the year. The addition of new licensees combined with organic growth during the period has resulted in continued growth across all business divisions," said Chief Executive Officer for Playtech, Mor Weizer.

Revenues from poker grew to $9.5 million. That is a sixty percent increase over the same period last year, but only a nine percent increase over the previous quarter. Casino revenue grew at even a higher pace. Revenue was up sixty nine percent, to $26 million. Last year in the same quarter casino revenue was $15.2 million.

Playtech has experienced a major jump in revenue from last year until this year. In the second quarter of this year, casino revenue was $24.6 million. The third quarter produced a five percent increase from the second.

Playtech's signing of William Hill as a new licensee helped the revenue increase along. "Playtech is excited to be working with a company with the scale and breadth of William Hill in what we believe will be a very significant deal for Playtech," said Weizer.

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