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Pristine performance from Playtech

Date: July 18, 2008 | Category: Online Bingo News |

The online bingo boom appears to be going strong after software provider Playtech recorded revenues of $42.4million for the second quarter of 2008.

The figures represent a 75 per cent increase on the same period in 2007 and a nine per cent improvement on the first quarter of 2008.

Playtech CEO Mor Weizer said: "The second quarter of 2008 was a further significant period of growth for Playtech. This level of performance, particularly considering the impact of the Euro 2008 football tournament and traditional seasonality, is very impressive with licensees continuing to win relative market share."

"The group also successfully raised £112 million during Q2 and the net proceeds are to be utilised to finance acquisition opportunities. Playtech has demonstrated its ability to leverage acquisitions and believe this money raised will provide the group with an extremely strong balance sheet that will allow it to take advantage of further opportunities that the current market offers and in relation to that the group has commenced due diligence on a potential acquisition opportunity.”

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