Q2 2011 KPIs and trading update

RNS Number : 6940K

Playtech Limited

20 July 2011

 



Playtech Limited

("Playtech" or the "Company")

Q2 2011 Key Performance Indicators and trading update

Continued strength through Q2, launch of new Italian products and Gala contract

Playtech, (AIM: PTEC) the international software developer, licensor and service provider for the online, mobile and land-based gaming industry, today announces its Key Performance Indicators and trading update for the three months ending 30 June 2011.

Financial highlights

On a like-for-like basis excluding France:

§ Total revenues up 19% on Q2/10 and 8% higher than Q1/11

§ Casino revenues up 24% on Q2/10 to €27.3 million; and 7% higher than Q1/11

§ Poker revenues down 24% on Q2/10 to €5.0 million; and 12% lower than Q1/11

On an absolute basis:

§ Total revenues up 7% to €39.6 million (Q2/10: €36.8 million), and 8% higher than Q1/11

§ Bingo revenues totalled €3.6 million, up 32% on Q2/10, (Q2/10: €2.8 million); and up 5% on Q1/11

§ Videobet revenues achieved material level for the first time, and generated €2.0 million in Q2/11, mainly from the rollout of its Global Draw contract

Figures for Gross Income and share of profit from William Hill Online will be available once William Hill PLC announces its interim results on 5 August 2011.

Trading update

Daily activity in terms of revenues for the first 18 days of Q3/11 are more than 25% ahead of Q3/10, and slightly ahead of the daily average of the previous quarter. This figure excludes any contribution from share of profit in William Hill Online and PTTS, which is performing in line with our expectations.

Operational highlights

§ Completion of Videobet's UK rollout: migrated 20,750 machines in the year to date

§ PTTS acquisition completed at the end of Q2/11 on scheduled timeframe

§ Signed software agreement with Californian Online Poker Association (COPA); further agreement with Playtech's JV Sciplay to provide ancillary services

§ Gala Coral contract to provide broad technology platform separately announced today

§ Acquisition of the leading mobile sportsbook provider, Mobenga AB separately announced today

§ Regulatory approval in Malta for Live games broadens appeal of offering

§ Soft launch of Casino Gran Madrid, first locally regulated Spanish operator

§ Final preparations for Italian cash poker and casino games, including Buongiorno mobile launch in Q2

§ Recognised in 2011 B2B industry awards, including Best Bingo Software and best RNG casino

Commenting on the KPI's, Playtech's Chief Executive, Mor Weizer, said:

"It has been a very positive quarter for Playtech, continuing a solid start to 2011 and included both the finalisation of Videobet's UK roll-out and the completion of the PTTS acquisition."

"Major licensee wins were announced, including the significant win of COPA in California; and today we have also announced the signing of a significant contract with Gala Coral to provide its online technology platform across all channels. We were first in the market to launch casino and cash poker tables in Italy this week, including SNAI and SISAL as well as other existing and new licensees, and welcomed both William Hill Online and Titan into the Italian network." 

"In addition, we have positioned ourselves to offer a platform for the rapidly growing mobile sportsbook segment, through the acquisition of Mobenga announced today. This is a strategic acquisition given the importance of mobile and the accelerated penetration rates of mobile."

"These developments reflect the success of our ongoing investment in the business and many months of intense preparatory work. Each is set to enhance our future regulated market income stream and the licensee pipeline remains strong across the product range. We would expect to announce further wins in the coming months."

"Revenues and player activity have grown throughout the quarter and while we are moving into what is traditionally the quietest seasonal period, we are pleased with Playtech's core business and the newly acquired PTTS, which has shown good resilience and is performing in line with our expectations."

Key Performance Indicators for the quarter ending 30 June 2011

Total revenue

Three months ended '000 (€)	30 Jun 11	30 Jun 10	Change %	31 Mar 11	Change %
Total revenue	39,591	36,833	7%	36,738	8%
Casino revenue	27,254	24,913	9%	25,442	7%
Poker revenue	4,977	7,275	-32%	5,679	-12%
Bingo Revenue	3,641	2,755	32%	3,475	5%
Videobet Revenue	2,047	641	219%	889	130%

Total revenue

Six months ended '000 (€)	30-Jun-11	30-Jun-10	Change %
Total revenue	76,329	72,892	5%
Casino revenue	52,696	49,110	7%
Poker revenue	10,656	15,798	-33%
Bingo Revenue	7,116	4,467	59%
Videobet Revenue	2,936	1,341	119%

Revenue - share of geographical diversity [1]

Three months ended	30 Jun 11	30 Jun 10	31 Mar 11
Europe	73%	79%	74%
Asia Pacific	22%	14%	21%
Rest of the world	5%	7%	5%

Revenue - nominal change in geographical regions

Period	Q2/11 to Q2/10	Q2/11 to Q1/11
Europe	0%	6%
Asia Pacific	69%	14%
Rest of the world	-31%	3%

Six months ended	H1-2011	H1-2010
Europe	73%	78%
Asia Pacific	22%	15%
Rest of the world	5%	7%

Revenue - nominal change in geographical regions

Period	H1/11 to H1/10
Europe	-1%
Asia Pacific	53%
Rest of the world	-31%

[1] The relative share is calculated as the total royalties derived from the specific region divided by the total royalties from all regions.

- Ends -

For further information contact

Playtech Ltd Mor Weizer, Chief Executive David Mathewson, Chief Financial Officer Ross Hawley, Head of Investor Relations c/o Pelham Bell Pottinger	[phone]
Collins Stewart Piers Coombs / Bruce Garrow	[phone]
Deutsche Bank Andrew Smith	[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 some 1,000 employees located in development centres in five countries, the majority of whom are engaged in research and development of current and future gaming technologies, together with 900 employees providing ancillary services. 

www.playtech.com 

 

END

 

 

TSTMMGMNLLNGMZM