The first quarter for software giant Playtech saw a rise of nearly one-third in sales, it has been reported.
Revenue for the first three months increased to €134.9m, a rise of 31 per cent. Growth is continuing into the second quarter as daily revenues are rising by 25 per cent, the company said.
Playtech has seen the increased sales despite the introduction of point-of-consumption taxation in one of its biggest markets, the UK.
The best performer in the Playtech portfolio is its land-based sector where revenues rose 198 per cent to €8.3m. Revenues from the casino business rose to €55.4m, an increase of 28 per cent. The services unit climbed 27 per cent to €37.8m.
It all represents a strong start to the year, says chief executive Mor Weizer: “We have signed new licensees, furthered our relationship with existing licensees and continued to lead industry innovation, including launching an app for the Apple Watch on the day it was released.”
The figures follow news that Playtech is buying a majority stake in TradeFX, a €208m purchase that enables Playtech to move into the foreign currency market.
