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Wednesday 26th April 2006 Playtech Announces Q1 Financial Results
International software developer for the iGaming industry Playtech has announced their trading figures for the first quarter of 2006. The figures report an extremely positive start to the year and revenues are up almost 150% on the same period in 2005.
Playtech's online casino services grew 136% and there was reportedly ‘encouraging progress’ in the contribution from Poker as new Poker software continues to be developed.
Playtech’s Chief Executive Officer Avigur Zmora said, 'During the quarter, which has included the Company's IPO, we have significantly increased revenues across all of our sectors, both year on year and compared to the previous quarter. Based on this increase, and the underlying growth of existing clients, we are delighted to have traded in the first quarter of 2006 ahead of market expectations.”
He contuned, 'It is particularly encouraging to see that our drive into the exciting and fast growing Asia Pacific market is showing clear results. Revenue contribution from this region has more than doubled within the year whilst US players this quarter contribute approximately 50 per cent of revenues, down from 67 per cent this time last year. This clearly illustrates the ongoing success of our strategy to create a more balanced geographical business portfolio.”
Source: OnlineCasinoNews
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