Playtech Momentum Maintained In 2014

Online gambling software developer enjoys another record year

2014 proved to be another good year for Playtech plc, the Isle of Man-based online gambling software developer, which posted its full year audited results Thursday.

Financial highlights included:

* Revenue up 24 percent to a record Euro 457 million (2013: Euro 367.2 million)

* Adjusted EBITDA up 30 percent to a record Euro 207.1 million (2013: Euro 159.4 million)

* Adjusted net profit attributable to the owners of the parent up 29 percent to Euro 190.8 million (2013: Euro 148.3 million)

* Reported net profit attributable to the owners of the parent Euro 140.3 million (2013: Euro 488.6 million)

* Adjusted basic EPS up 28 percent to 65 Euro cents per share (2013: 50.7 Euro cents per share)

* Cash balances at year end of Euro 692.3 million (2013: Euro 527.4 million)

* Recommended final dividend of 17.5 Euro cents (2013: 15.4 Euro cents), giving a total 2014 dividend of 26.4 Euro cents (2013: 23.2 Euro cents)

In a trading update, the company revealed that it has enjoyed a strong start to 2015, with daily average revenues for the first eight weeks of the year up over 22 percent on Q1 2014 and up over 5 percent on Q4 2014, including some benefit from the current Euro weakness.

Operational highlights included:

* Completion of Ladbrokes migration to Playtech's full product suite and IMS infrastructure;

* Industry-first roll-out of a single log-in omni-channel solution to Coral betting shops;

* Signed agreement with Holland Casino for the provision of casino, Live, bingo and poker ahead of forthcoming regulations in the Netherlands, following a competitive tender;

* Structured agreements signed and launched with Caliente in Mexico and RCS Media in Italy, and a turnkey solution for Trinity Mirror in the UK;

* Acquisition of Aristocrat Lotteries, creating the world's largest VLT software business;

* Acquired a 33.3 percent stake in BGO, gaining access to a game design studio enabling the creation of new content for Playtech's software platform;

* A number of significant launches including:

Ladbrokes: Live; Spain and Belgium including sports; as well as Denmark

Gala interactive in Sweden

Mobile poker in France

Innovative Live offerings for Skybet and RAY

Launch of new BIT solution

Post year-end, acquired Yoyo Games Limited in line with casual games strategy.

Alan Jackson, non-executive chairman of Playtech, said:

"Playtech has continued to deliver exceptional performance by focusing on consolidating its position as the world's leading software and services provider to the online gambling industry.

"By expanding its licensee relationships; creating innovative new content; enhancing its products; and deepening its customer focus, the business has continued to thrive.

"The continued momentum of 2014 has been maintained in the first two months of 2015 and the Board looks to the future with confidence and optimism."

Online Casino News Courtesy of Infopowa

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