As the gaming software development giant Playtech predicted in January, both its annual revenue and adjusted cash income met the initial analysts’ forecasts. The company has announced a “strong start” for 2015 after revealing that it had set a record with its full-year revenue and earnings thanks to new acquisitions and alliances.
Playtech shared that its average revenue generated on a daily basis over the first eight weeks of the current year rose by about 22% in comparison to the results reported over the same period a year earlier. In addition, the result is 5% better than the one reported for the final quarter of 2014. The excellent performance of the casino software developer is believed to be also partly due to the weak euro.
According to the gaming company’s report, Playtech has managed to generate a 24% increase in its full-year sales, which reached €457 million. In comparison, analysts have initially predicted a revenue of €447 for the company.
In addition, the gaming giant announced a 30% growth in its adjusted earnings before interest, taxes, depreciation and amortization (EBITDA), which amounted to a total of €207 million. When stripped of the acquisitions made by Playtech over the last couple of years, the revenue increase was reported to amount to 21%, while the profit growth was estimated to 27%.
Playtech also disclosed a 29% rise in its adjusted net profit. The latter grew to €190.8 million. The casino software developer increased its total dividend from 23.2 cents a year earlier to 26.4 cents.
Several acquisition contracts were inked by the company over the year. The deals were signed with Caliente in Mexico, Trinity Mirror in the UK, Holland Casino in the Netherlands and RCS Media in Italy. Last year Playtech managed to create the biggest VLT software business on a global scale after purchasing Aristocrat Lotteries.
In addition, it acquired a 33% stake in BGO, which provided it with the opportunity to take advantage of the game design studio that will allow it to create fresh content for its software platform.
The great results of the company over 2014 are attributed to the fact that over the period it managed to successfully complete the migration of Ladbrokes to the full product line of Playtech as well as to an IMS infrastructure. The UK-based gaming company has finished replacing its casino and gaming software with the product line of Playtech on its websites over the last year.
