Interim Management Statement

RNS Number : 5854R

Playtech PLC

29 October 2013

 



Playtech plc

("Playtech" or the "Company")

Interim Management Statement

Continued strong revenue performance throughout the third quarter

Playtech (LSE: PTEC) today announces its Interim Management Statement for the three months ended 30 September 2013, ("Third Quarter", "Q3" or the "Period") and a trading update.

Financial highlights

Due to significant fluctuations in exchange rates compared to the prior year, changes in revenue are also presented on a constant currency basis to reflect the underlying performance of the Company.

Quarter-on-quarter revenue performance:

	Q3/13 (€ m)	Q3/12 (€ m)	Change on Q3/12 Constant currency	Change on Q3/12 As reported
Total revenues	90.6	79.9	+16%	+13%
Casino revenues	46.8	38.5	+24%	+21%
Services revenues*	28.5	26.9	+7%	+6%
Bingo revenues	4.2	4.4	+0%	-6%
Sport revenues	3.4	2.6	+39%	+31%
Poker revenues	3.2	4.1	-21%	-22%
Videobet revenues	2.9	2.9	+7%	+1%

* Includes revenue from PokerStrategy from July 2013.

§ Cash and cash equivalents as at 30 September 2013: €523.2 million

Trading update

Average daily revenue for the first 27 days of Q4/13 is up over 12% on Q4/12 and up over 5% on Q3/13.

Operational highlights

§ Acquisition of PokerStrategy

§ Ladbrokes launched Vegas tab in July

§ Bet365 launched mobile LIVE on HTML5 in September

§ First launch of HTML5 mobile poker in September with two licensees

§ Mobile poker native iOS application approved by the French App store

Corporate highlights

§ Alan Jackson appointed as Chairman in October

§ Hillary Stewart-Jones appointed as a non-executive director in October

Mor Weizer, Playtech's Chief Executive Officer, commented: "Playtech has continued its growth through the third quarter and the management team is confident of achieving market expectations for the full year and beyond."

Quarterly performance

				Change %
	Q3/13 (€m)		Q3/12 (€m)	Constant currency	Reported	Q2/13 (€m)		Reported change
Total revenue	90.6		79.9	+16%	+13%	89.3		+1%
Casino revenue	46.8		38.5	+24%	+21%	46.2		+1%
Services revenue*	28.5		26.9	+7%	+6%	25.3		+13%
Bingo revenue	4.2		4.4	+0%	-6%	4.5		-8%
Sport revenue	3.4		2.6	+39%	+31%	4.6		-26%
Poker revenue	3.2		4.1	-21%	-22%	3.6		-12%
Videobet revenue	2.9		2.9	+7%	+1%	3.3		-13%

* Includes revenue from PokerStrategy from July 2013.

Geographical split

	Q3/13	Q3/12	Q2/13
Europe	64%	65%	63%
Asia	25%	23%	25%
Rest of the world	11%	12%	12%

Conference call

Mor Weizer, Chief Executive Officer, and Ron Hoffman, Chief Financial Officer, will host an analyst conference call today at 9.30 am.

Details of the conference call are as follows:

Dial-in no UK: [phone]

Dial-in no US: [phone]

Conference ID: 4645025

Replay (available for one week)

Dial-in no: [phone]:

Conference reference number: 4645025#

An audio file will be also available on the Playtech website following the conference call.

- Ends -

For further information contact:

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

Forward looking statements

This announcement includes statements that are, or may be deemed to be, "forward-looking statements". By their nature, forward-looking statements involve risk and uncertainty since they relate to future events and circumstances. Actual results may, and often do, differ materially from any forward-looking statements. Any forward-looking statements in this announcement reflect Playtech's view with respect to future events as at the date of this announcement. Save as required by law or by the Listing Rules of the UK Listing Authority, Playtech undertakes no obligation to publicly revise any forward-looking statements in this announcement following any change in its expectations or to reflect events or circumstances after the date of this announcement.

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 some 3,000 employees located in 12 countries. Its leading gaming applications include casino, bingo, sports betting, poker, live, mobile and social gaming, casual and fixed odds games.

www.playtech.com

 

END

 

 

IMSMPBMTMBITTBJ