Playtech posts "record" full-year results
Software giant's casino and mobile divisions drive 2014 revenues up 24% YoY as profits soar to 207.1m
Playtech this morning announced record full-year profits of 207.1m after strong growth in casino and mobile saw the software giant’s revenues soar 24% year-on-year.
Revenues for the 12 months ended 31 December increased from 367.2m in 2013 to 457m, while adjusted EBITDA also grew 30% to 207.1m.
The London-listed firm’s core casino business, which accounted for over half of total revenues, grew 29% year-on-year to 244.2m after Playtech secured a number of new agreements including a live casino deal with Sky Betting and Gaming.
Revenue from Playtech’s mobile channel also grew rapidly, up 64% year-on-year, as the company ramped up its omni-channel strategy during 2014 through further integration of retail, web and mobile.
The company’s sports betting arm posted strong growth in the 12-month period, albeit from lower levels, increasing 54% to 26.3m, while services and land-based revenues soared 20% and 35% respectively.
Bingo, down 5% year-on-year to 17.5m, and poker, down 6% year-on-year to 16.6m, were the only blips in what Playtech’s non-executive chairman Alan Jackson described as an “exceptional” year for the firm.
“Playtech has continued to deliver exceptional performance by focusing on consolidating its position as the world’s leading software and services provider to the online gambling industry,” he said.
“By expanding its licensee relationships; creating innovative new content; enhancing its products; and deepening its customer focus, the business has continued to thrive,” Jackson added.
Jackson also said the supplier had made a strong start to 2015 with daily average revenues for the first two months up 22% compared to Q1 2014.
Playtech’s share price was 738p on the London Stock Exchange at the time of writing.