Playtech Goes From Strength To Strength
Playtech has left investors and other stakeholders smiling during their recent end of year financial results report. Despite facing a few challenges in new markets and some teething problems with new projects, Playtech still came out on top with a revenue jump of 14%, ending at a whopping €807 000 000.
Many have been concerned about this report after the company issued a profit warning in November, still in effect, following a serious loss of revenues in Asia following various governments’ moves to break of gambling rings in Malaysia and other problem areas. Both legal and illegal gambling has become intertwined in the government purge but Playtech seems to have dodged the worst of it.
Q1 First Steps Have Been Slow
2018 has started in quite a lull for Playtech with daily revenues down 11% in the first two months, but overall Chairman Alan Jackson is more than optimistic. He noted that the company has seen double digit growth for 2017, even while facing strong challenges. He was happy to also announce that investors will get a 10% increase in their dividend.
Whets more is the projects that Playtech have had on the back burner will come into fruition this year. Ahead of the pack is the much troubled Sun Bingo project that has been reporting growing revenues figures ever since it has gone live.
More Coals In The Fire
The Playtech BGT Sports integration software and the new state of the art Live Dealer studios in Riga will also become operational broadening and securing the omni channel offerings that Playtech strive to be great in.
Despite this strong report attempting to boost investor confidence, Playtech’s shares were still down 13% lower than their peak in July 2017, although they have much improved since the 25% drop they saw last year once news emerged of the Asian market crackdowns.
Playtech is looking forward to 2018 as they will finally be able to see some pay off coming from their latest projects that have long been inspiring more investor confidence. If these projects do not pan out, Playtech may find themselves on the end of a slippery slope that could negatively impact their share value.
Playtech’s diversification drive is essential to keeping this giant relevant and they will need to push back hard to retain the market share they currently enjoy. Their Live Dealer studios would help them stand up to the likes of Evolution Gaming, the company to beat n the Live Dealer space.
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