Playtech On The Rise, Says The Full-Year Report
The Isle of Man-based gaming company Playtech has published its annual results, which show the firm has ended the year with growth.
During the twelve months of 2017, Playtech generated revenues of $993.5 million, which represents a 14% rise over the results achieved a year before.
EBITDA also went up, from $248.7 million in 2016 to $284.4 million in 2017, while net profits increased by 28.5% to $305.3 million.
Playtech has experienced certain problems in Asia and the United Kingdom, and thus it had to reassess its annual estimates in November. Fortunately, the results were in-line with the earlier expectations.
However, the company emphasized a number of its achievements during 2017 which would further strengthen its market reputation.
Playtech highlighted the migration of its live casino the newly built studio in Riga, Latvia, and the strong performance of its Playtech BGT sportsbook division. Playtech BGT expanded its market presence by signing new deals with HpyBet, Magic Betting, and SAS, and renewing a number of existing ones, including those with Paddy Power, Betfred, OPAP, and Boylesports.
Emphasizing Strong Performance
Commenting on the recently revealed results, Playtech’s Chairman Alan Jackson said the company’s performance continued to be converted into strong generation, enabling a 10% increase to the full year dividend.
Jackson stated Playtech wanted to improve the quality of earning and added the results of its strategy had been evident in the 54% regulated revenue rise.
He pointed out that the completion of the Playtech BGT Sports integration and the launch of the new Live Casino studio in Riga were key moments of 2017, which had already resulted in new clients.
Improvements were made across all key performance indicators, and the company is fully prepared for any new regulations in the financial industry.