Playtech Q3 revenues up 47% YoY
Supplier reports growth across all verticals bar poker with 73% of gaming revenue growth from regulated markets
Playtech this morning reported a 47% year-on-year rise in Q3 2015 revenues as the supplier reaped the benefits of a regulated market focus and expansion into the financial trading sector.
Excluding growth from the company’s acquisitions and adding back the impact of the UK’s Point of Consumption tax, total Q3 revenues increased 24% year-on-year and 17% year-on-year on a constant currency basis.
The London-listed firm recorded total quarterly revenues of 170.9m, up from 116.5m in Q3 2014, with 73% of growth for its gaming division coming from regulated markets.
Regulated revenues accounted for more than half of total group revenues and 40% of gaming revenues during the quarter, up from 35% in Q3 2014.
Revenues from its gaming arm were up 23% year-on-year to 143.4m which included double-digit growth from casino (21%), services (18%), sports (25%) and bingo (15%), while land-based revenues soared 134%.
Poker was the only gaming vertical not to record growth during the quarter as revenues decreased 25% year-on-year to 2.5m.
The supplier’s financials division contributed revenues of 27.5m in Q3 after it completed the acquisition of foreign exchange and currency brokerage firm TradeFX earlier this year.
Playtech CEO Mor Weizer praised the company’s operational performance was confident his firm can maintain its current performance in the future.
“Our gaming division continues to enjoy double-digit underlying growth with our strong pipeline of opportunities giving us confidence in maintaining our momentum,” he said.
“Given the strength of our business and the momentum that we are enjoying, we have confidence for the remainder of 2015 and beyond,” Weizer added.
Playtech’s share price on the London Stock Exchange was up 3.34% to 819p at the time of writing.