Poker The Star In Playtech Quarter 2

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Revenues up following Tribeca acquisition

The announcement of quarter 2 results this week by turnkey provider Playtech plc show a continued recovery from last year's American UIGEA debacle and impressive results from online poker operations following the acquisition of the Tribeca Tables poker network earlier this year.

8 of the 12 new Playtech poker licensees over the past six months come from the Tribeca acquisition.

Revenues from poker operations over the 3 months to the end of June rose 50 percent to $6.3 million over the previous quarter, and excluding the lost American business, the increase in poker revenues constitutes a 288 percent increase over the corresponding period in 2006.

Revenues from online casino operations were up, too - 46 percent compared to the same period in 2006 at $17.4 million (2006: $15.2 million)

Total revenues for the first half 2007 rose to $44 million - up 80 percent on the first six months of 2006, when lost US business is taken into account. Revenue contributions came from online casino income of $32.6 million (53 percent) and $10.5 million from poker.

The impact of the US pull-out continues to be reflected in comparisons with quarter 2 last year - overall second quarter revenues by comparison were short by 5 percent at $25.4 million.

The Playtech report shows that Tribeca generated business improved the European action for Playtech poker, bringing in 68 percent compared to 49 percent last year. Asia Pacific income fell from 39 percent to 22 percent, although the company claims that this market sector has stabilised in the second quarter, with the restructuring of a major Asian licensee now almost complete.

Playtech CEO Mor Weizer commented: “The second quarter was the first full quarter of contributions from our Tribeca licensees. The successful migration and integration of these has left Playtech as the world’s leading independent poker network.” He went on to reveal the firm's intention to launch a live gaming product for the Asian market soon.

The report concludes with the news that the third quarter has started strongly: “Since the beginning of the third quarter, the company is experiencing growth across all business areas and this trend is expected to continue, despite this traditionally being a slow period for the industry.”