Black-market Asian online ops drive Playtech’s H1 gains

Gambling technology provider Playtech reported double-digit gains in revenue and earnings in the first half of 2017 thanks to a strong performance by its online casino division.

Figures released Thursday show the UK-listed Playtech’s revenue hitting €421.6m in the six months ending June 30, a 25% rise over the same period last year. Adjusted earnings rose 19% to €171m while net profit jumped 84% to €89.6m.

Playtech’s mainstay casino operations continued to lead the revenue pack, rising 26% to €235.5m, for which the company credited a “particularly strong performance” by its Asian grey- and black-market online gambling licensees. Despite this reliance on legally sketchy markets, the company’s share of total revenue from regulated markets rose two points to 50% during H1.

In other positive developments, sports betting revenue more than doubled to €19m following last year’s BGT acquisition, bingo improved 70% to €9m following last year’s Eyecon deal and ‘other’ revenue shot up 148% to €10.3m. The only negatives were services (€76.5m, -6%) and the iPoker division (€5m, -5%). Mobile channels accounted for 38% of online software revenue, up from 29% a year ago.