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Playtech First Quarter Results Released
Revenues up on Q4 but down over same period last year
due to US situation
Online games developer and turnkey provider Playtech says total
revenues for the first quarter 2007 are up on quarter 4 but lower
than the same period last year when US players were welcome at the
firm's licensees. Whilst total revenues rose 14 percent over the
last quarter of 2006 to US$19.8 million, there was a 5 percent decrease
when compared to quarter 1 revenues in 2006.
Revenues excluding US contributions increased 22 percent compared
with Q4 2006 and 85 percent compared with Q1 2006, illustrating
the impact of the US withdrawal.
The company reported that the merging of Tribeca licensees into
its iPoker network had been completed a month ahead of schedule,
doubling the number of players registered on the network and making
it one of the largest on the Internet. Business opportunities in
the European online gaming market had grown substantially and was
expected to continue to do so, while the slowdown in its Asian segment
was attributed to the restructuring of one of its licensees due
to be completed by the end of Q2 2007.
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