Playtech boss lauds strategy after glowing H1 figures
Playtech chief executive Mor Weizer has reiterated his belief in the resilience of the company's business model of adding new licencees to its existing stable of clients and targeting soon-to-be or already-regulated markets, following the publication of the company's positive half-year figures today.
PLAYTECH CHIEF executive Mor Weizer has reiterated his belief in the resilience of the company’s business model of adding new licencees to its existing stable of clients and targeting soon-to-be or already-regulated markets.
Speaking following the presentation of Playtech’s half-year results today, Weizer said that France represented the company’s major market focus as it neared regulation of its online gaming sector, and tha tPlaytech was already in discussion with a number of potential new partners to add to Playtech’s existing partnership with Chili Poker.
Weizer also predicted that markets such as Estonia and other Baltic states are likely to regulate their egaming sectors in the near future, and said that if the US were to regulate, “we would be surprised at the US being open and Playtech not being there.”
Playtech’s William Hill Online integration and the macro-economic conditions were the key factors affecting results, Weizer said. Even though the company predicted that it would not meet its forecast for the full year 2009 when it announced its key performance indicators at the end of July, Weizer said Playtech’s revenues were still above those of most of its competitors while the positive effects of its deals with William Hill Online and others such as Betfair, NetPlay and the Serbian State Lottery would be felt by year end.
Current trading revenues for July and August were up just 1.4% excluding income from William Hill Online but were expected to pick up as the quieter Summer season came to a close, Weizer said.