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Playtech's Going Strong

Playtech is an online casino software and network provider showing a steady increase in profits and success after a pullout from the industry in the United States. CryptoLogic is one of the company’s top competitors. Playtech, however, holds the top spot primarily because of recent partnerships and the company’s extensive iPoker Network.

Another indication that the company is doing well—its first quarter results are promising, and the company is predicting an equally agreeable second quarter for the company. Though the competition in the software providing industry is tough, Playtech is a favorite for European online casinos and poker sites. Recently, Playtech negotiated so that the Tribeca poker network has now switched onto Playtech’s iPokerNetwork. This has done wonders for the company’s registered online players, boosted gambling on the network, and generally boosted the company’s revenue and potential.

Like many other online casinos and software providers, Playtech took a hit when it was forced to withdraw from the United States market due to the Unlawful Internet Gambling Enforcement Act. But a focus on increasing player numbers across its European networks, and a look into the Asian market has shown that Playtech has both staying power in the industry, and a top management team.

Playtech’s first quarter revenues are impressive, and shows some of the most profit percentage increases the online casino software company has ever experienced. The company reported a 58 percent increase in revenue from the first quarter of 2006.