AGM Statement

RNS Number : 4219D

Playtech Limited

16 May 2012

 



 Playtech Limited

('Playtech' or 'the Company')

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:

"I am pleased to report another year of growth and progress by Playtech with excellent top line performance and strong growth in EBITDA. In 2011 gross income increased by 41% to €243.6 million and revenues by 46% to €207.5 million. Adjusted EBITDA rose 22% to €125.5 million, including the Group's share of profit from William Hill Online.

The Board and its advisers are committed to moving to a Premium Listing on the Official List of the London Stock Exchange and preparations continue to progress well. A prospectus will be published and an application made for the move, as soon as possible.

Turning to current trading, the strong performance experienced in the first quarter has continued in the six weeks since the end of March. PTTS has outperformed expectations and the Group is preparing for regulated activity in the German and Spanish markets which is anticipated to commence later in the year when licences are granted in Schleswig-Holstein and Spain.

Our joint venture with William Hill, William Hill Online, continues to perform strongly and demonstrates Playtech's ability to forge significant earnings enhancing partnerships with leading gaming businesses around the world. The stake in William Hill Online is a valuable asset for the Company.

As ever, Playtech's continued 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 yet another excellent performance in 2011.

In conclusion, after an exciting year of progress and investment, we believe Playtech continues to perform strongly and is well positioned for continued growth. We remain confident of the Company's future prospects and look forward to further progress in 2012."

-Ends-

For further information contact:

Playtech Ltd Roger Withers, Chairman Mor Weizer, Chief Executive David Mathewson, Chief Financial Officer c/o Pelham Bell Pottinger	[phone]
Canaccord Genuity Piers Coombs / Bruce Garrow	[phone]
Pelham Bell Pottinger David Rydell / Olly Scott / Guy Scarborough	[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.

Leading gaming applications include casino, poker, bingo, sports betting, live gaming, casual and fixed odds games. Playtech provides licensees with the tools to maximise cross-selling opportunities, player loyalty and yield, all through the powerful management interface - the IMS. 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 has over 1,200 employees located in development centres in seven countries, the majority of whom are engaged in research and development of current and future gaming technologies, together with over 1100 employees providing ancillary services

www.playtech.com 

 

END

 

 

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