Publishing its results for the six months to June 30, gaming technology giant Playtech has reported a 25 per cent year-on-year rise in revenues, to €421.6m, and a 19 per cent climb in earnings (adjusted EBITDA), to €170.9m.
Adjusted net profit for the period was €89.6m, up 84 per cent on the first six months of 2016.
In a statement, the company said it was “confident of a strong performance in 2017 driven by both organic growth and the acquisitions made in 2016 and 2017, albeit with normalised levels of growth in the second half from Asia following unusually high levels of activity in the first half."
Average daily revenue in Playtech’s Gaming Division for the first 53 days of Q3 was up one per cent year on year (six per cent at constant currency).
Chairman Alan Jackson said: “The proven strength of the Playtech model was once again demonstrated with a strong H1 performance driven by both underlying growth and recent acquisitions. As always, Playtech's performance has been converted into strong cash generation enabling a 10 per cent increase in the interim dividend, in line with the progressive dividend policy.
“The first half of the year saw Playtech's Gaming Division deliver strong growth with double-digit underlying growth and recent acquisitions integrated and performing in line with expectations.
“Playtech has also continued to execute on its industry leading omni-channel solution by deepening its offering in key verticals with the integration of Playtech BGT Sports and the launch of the world's largest live casino studio in Latvia.”
He added: “Taken all together, this proven platform for growth across the business has again delivered a strong performance and management remain confident of further strategic progress in the second half of 2017.”
