Online gambling software outfit Playtech had a stellar 2014 as revenue surged 24% to a record €457m and earnings rose 30% to €207.1m.
Playtech said the good times have continued into 2015, with daily average revenue over the first eight weeks up 22% year-on-year and up 5% from Q4 2014. Playtech shares rose over 5% on Thursday to close at 777p.
Playtech’s flagship casino product rose 29% to €244.2m, while its PTTS services division grew 20% to €132.8m. Sports betting provided the biggest annual gain, rising 54% to €26.3m on the strength of the 2014 FIFA World Cup. Land-based operations rose 35% to €16.6m thanks to the acquisition of Aristocrat Lotteries as well as a fledgling retail sport offering. Bingo and poker were the net decliners, falling to €17.5m (-5%) and €13.8m (-6%) respectively.
Mobile revenue was up 64% in 2014. Mobile casino revenue grew 84%, accounting for 10% of casino revenue, up from 7% in 2013. Mobile sports wagering grew 51% to €22.2m, while mobile bingo was up 21%. The poker vertical’s first full year of mobile access generated revenue of just €200k.
Playtech continues to push its omni-channel strategy of fusing web, mobile and retail products into a unified whole, which the company believes will eventually become the industry standard. Playtech debuted this single log-in system at Coral betting shops in 2014.
Playtech continues to hint that it’s preparing for a major acquisition, although details remain as scant as ever. The company’s cash balance came to €692m as of Dec. 31, providing it with serious latitude in considering what assets to snap up.
PHILIPPINE-LICENSED OPERATOR REVENUES MORE THAN DOUBLE