Earlier today, gaming software developer Playtech plc announced its trading update for the first quarter of 2015. The company posted a 31% increase in overall revenue to €134.9 million as compared to what was generated a year ago.
The considerable rise was mainly attributed to the developer’s casino, services, and land-based operations. Its casino segment generated revenue of €70.9 million compared to €55.4 million reported for the first quarter of 2014. Services were up 27% to €37.8 million.
The company’s land-based operations posted the most considerable increase of almost 200%. Revenue from those reached the amount of €8.3 million. Income from sports-related products totaled €7.3 million, up 31% year-on-year. Bingo revenue increased 24% to €5 million. Poker was the only segment that posted a decrease. Revenue dropped by 17% to €3.2 million in the three-month period ended March 31.
Playtech pointed out in its statement from earlier today that both its existing and new businesses, as well as its acquisitions, performed quite well during the reported period. Revenues from regulated markets increased 40% compared to the 34% rise posted in the first quarter of 2014. A 9% increase was also registered in the company’s average daily revenues.
Furthermore the software developer reported a 25% growth in average daily revenue for the first 25 days of this year’s second quarter.
During the reported period, Playtech extended its contracts with Finnish gambling operator RAY and UK-based one Ladbrokes. Furthermore, online casino LeoVegas was signed on the Playtech Open Platform.
The developer also reported significant progress with its omni-channel solution Playtech ONE. During the three-month period ended March 31, the company managed to introduce Rainbow Riches™ Bingo – the first bingo product of the omni-channel brand, and to unveil Virtual Sports features. A few days ago, Playtech also launched its first Apple Watch sports betting app together with gambling operator Gala Coral.
In February 2015, the software developer completed the purchase of YoYo Games for the amount of $16.4 million, as part of its strategy to enhance its social gaming offering.
Mor Weizer, Chief Executive Officer of Playtech, said that bearing in mind the company’s strong start of the year and the progress it made in all segments of its business, it will certainly be able to “deliver strong growth in 2015 and beyond.”
