Important online gambling software developer Playtech announces a great result for 2006. The profit before tax almost doubled compared to the year before, mostly thanks to successful expansion in Euro
Important online gambling software developer Playtech announces a great result for 2006. The profit before tax almost doubled compared to the year before, mostly thanks to successful expansion in Europe and Asia.
PlayTech's result for 2006 showed a near 90 percent increase in total revenues to $90 million. Profit before taxes increased to $61 million for the year. The online casino part of the revenues increased with 81 percent to $77 million, while online poker revenues increased an amazing 300 percent to $11 million.
In the report, the expansion in Europe and Asia are pointed out as chief factors for the good result. By focusing its efforts on new markets, the group has managed to compensate for its losses in the U.S. due to the stricter online gambling legislation.
"The group's broad international portfolio of clients, especially in Asia and Europe, meant that the impact of the prompt withdrawal by its licensees from the US market was greatly reduced," said the group chairman Roger Withers in his statement.
"We look forward into 2007 with great enthusiasm and expect it to be a year of further growth,'' said chief executive officer Avigur Zmora.
PlayTech's result for 2006 showed a near 90 percent increase in total revenues to $90 million. Profit before taxes increased to $61 million for the year. The online casino part of the revenues increased with 81 percent to $77 million, while online poker revenues increased an amazing 300 percent to $11 million.
In the report, the expansion in Europe and Asia are pointed out as chief factors for the good result. By focusing its efforts on new markets, the group has managed to compensate for its losses in the U.S. due to the stricter online gambling legislation.
"The group's broad international portfolio of clients, especially in Asia and Europe, meant that the impact of the prompt withdrawal by its licensees from the US market was greatly reduced," said the group chairman Roger Withers in his statement.
"We look forward into 2007 with great enthusiasm and expect it to be a year of further growth,'' said chief executive officer Avigur Zmora.
