Playtech have good first half results!

September 21, 2010 - by Gladys · Filed Under online bingo news Leave a Comment 

So far this year the first 6 month reports from various online gaming companies have been very mixed, with some posting good results whilst others keeping their fingers crossed that things improve in the next half of the year. Playtech, the online bingo software and network provider are one of the happier ones, with their gross income up by more than 30% to €87.9million. They have also forged several new partnerships in 2010, acquiring Virtue Fusion and making a deal with William Hill.

Acquiring Virtue Fusion, the well known bingo provider, cost Playtech €37.7 million, and in the 4 months that Playtech has so far owned it the very welcome sum of €4.5 million in revenue has been generated. The deal also means that Playtech has the largest network in the internet bingo industry, which means that bingo sites on their network are able to offer better promotions and larger prizes to their players. As Virtue Fusion is one of the leading bingo software providers Playtech has a great opportunity to expand in both the UK and overseas, and just to underline this they have recently launched an Italian bingo site.

With the acquisition of Virtue Fusion Playtech now controls some very well established bingo sites such as Mecca Bingo, William Hill Bingo, Crown Bingo and Virgin Bingo. The partnership with William Hill was particularly lucrative, mainly due to the World Cup. The company took a €15 million share of the profits from its online partnership, which was an impressive 45% increase on 2009. Playtech is certainly not resting on its laurels though, with planned future licences with Betfair Casino for the third quarter of 2010, RAY in Finland for the end of 2010 and Casino Gran Madrid in early 2011 all on target.

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