AGM Statement

RNS Number : 1845E

Playtech Limited

08 May 2013

 



Playtech Limited

("Playtech" or the "Company" or the "Group")

Annual General Meeting statement

At the Annual General Meeting of Playtech Limited this morning the Company's Chairman, Roger Withers, will make the following statement:

"Playtech has achieved yet another year of exceptional growth and passed some of its most significant milestones to date. In 2012, gross income increased by 51% to €368.1 million and revenues were up 53% to €317.5 million. Adjusted EBITDA grew 49% to €186.7 million, including the Group's share of profit from William Hill Online.

As previously announced, given the Company's excellent full year results, the Board has recommended a final dividend payment of 15.4 € cents which gives a total dividend of 23.2 € cents per share for the year.

The Company expanded its product offering, increased its exposure to regulated markets and developed significant strategic partnerships and agreements. Playtech's acquisition strategy has proved successful as evidenced by its market-leading position with PTTS and Mobenga generating significant new revenues.

The conclusion of the sale of Playtech's minority stake in William Hill Online and the achievement of consistent double-digit annual growth at WHO demonstrates the significant mutual success Playtech can create through its joint venture activities. The substantial valuation of the Company's WHO stake creates a strong platform for growth.

Turning to Ladbrokes, Playtech is delighted to be working with one of the largest and most respected brands in the gaming industry. The agreement demonstrates the value of PTTS and the diversity of Playtech's business offering. The Company is committed to developing Ladbrokes's digital business and we look forward to the future with confidence.

In terms of current trading, the first quarter's strong performance has continued in the six weeks since the end of March. Playtech's strategy continues to perform in line with management's growth expectations and the Group is in a strong position to take advantage of the evolving regulatory environment.

Given the Company's continued strong performance and receipt of proceeds from the sale of its stake in WHO, the Board is committed to paying an interim dividend at or above the level of that declared last year. The Board and management continue to assess the most effective ways of deploying the proceeds of the WHO stake sale to deliver maximum benefit to the Company and its shareholders, including consideration of a capital return to shareholders.

The Company's success could not have been achieved without the commitment of the executive management team and everyone working for the Company, and I thank them for another excellent performance.

In conclusion, after another year of significant progress, the Board believes Playtech is in a prime position to grow and well capitalised to take advantage of opportunities from developing global regulations. We remain confident of the Company's future prospects and look forward to further progress in 2013 and beyond."

- Ends -

For further information contact:

Playtech Ltd Mor Weizer, Chief Executive Officer Ron Hoffman, Chief Financial Officer c/o Pelham Bell Pottinger Adam Kay, Head of Investor Relations	[phone] [phone]
Pelham Bell Pottinger David Rydell / Olly Scott / Guy Scarborough / Charlotte Offredi	[phone]

About Playtech

Playtech develops unified software platforms and content for the online and land-based gaming industry, together with providing a range of ancillary services such as marketing, hosting and CRM services.

The Group's capabilities enable the delivery of an integrated software or turnkey solution, with players accessing online, broadcast, mobile and server-based gaming terminals through a single account.

New licensees include existing online operators upgrading or diversifying their offering, land-based casino groups, government sponsored entities such as lotteries, and new entrants making their online gaming debut, particularly in newly-regulated markets.

Founded in 1999, Playtech is listed on the London Stock Exchange and has over 2,600 employees located in nine countries. Its leading gaming applications include casino, poker, bingo, sports betting, live, mobile and social gaming, casual and fixed odds games.

www.playtech.com

 

END

 

 

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