Playtech is Excited About Recent Performance and Hopes to Continue the Momentum
Playtech has managed to gain considerable momentum throughout the first half of 2017. Playtech is a company that produces gambling software out of England. The company is looking to use this momentum to catapult them into a successful second half of the year which shouldn’t be hard for the company considering they have once again secured Tier 1 contracts with some of their best partners such as Betfred, Sky Bet, and Paddy Power Betfair.
Over the course of 2016, Playtech showed that their multichannel strategy was truly a successful business strategy. The company saw group revenues of €421.6 million in the second half of the year which was 25% more than the first half that ended at €337 million. Throughout the first half of 2017, Playtech saw their EPITDA reach €171 million. This is 19% better than the company’s first half of last year. Playtech’s net profit also hit €90 million.
The staff of Playtech took notice to their extremely strong “gross cash” earning which reached €500 million on June 30 and is likely to continue growing from there. They mentioned their positivity in a statement projecting their success for the rest of the year. Playtech also secured Alpha UK for €150 million. Alpha UK will be the group’s new platform for risk management as well as B2B financial trading.
Playtech’s staff remains positive because of the actions they took during the first half of 2017 that will continue to benefit them throughout the second half. For instance, they invested a lot in new product developments in order to keep their customers excited and energized about the company. They also have worked on multi-channel asset innovations, in addition to creating new live gaming division product ideas.
The group also decided to move to a new financial trading services division. They will now be working with TradeTech Group, and Mr. Ron Hoffman will be the Chief Executive.
The H1 success has Playtech very excited for the future. The chairman, Mr. Alan Jackson, was excited to comment on their recent successes saying, “Playtech has also continued to execute on its industry leading omni-channel solution by deepening its offering in key verticals with the integration of Playtech BGT Sports creating a fully integrated best-in-class sports technology solution and the launch of the world’s largest live casino studio in Latvia, revolutionising the offering in a growing and dynamic channel.”