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Rapid Expansion at Online Casino Group

With the phenomenal growth of its iPoker Network, in addition to new exclusive licensees, new products, and new technologies, Playtech has managed to churn out one of the best year-end reports yet. At this time of year, the online casinos and gambling groups all issue reports with their fully-year financial results, and while many companies are showing impressive growth, Playtech’s performance over the past year has shown that the company has incredible earnings potential for the 2008 fiscal year as well. The latest report includes the 2007 full-year earnings for the online casino software development group, and according to the report the company is up a significant percentage in all of its revenue earnings.

On the development front, Playtech released a range of new products for the online casino gambling industry: new games, new flash bingo software, and new poker products. The surge in productivity is in part due the fact that the company has expanded its employee base to accommodate the needs of the rapidly growing online software development company. Playtech added several new software licensees and expanded the number of online casinos and poker sites operating on the companies hugely successful iPoker Network. The Non-executive Chairman at Playtech, Roger Withers, remarked on the company’s growth, “The Group continues to expand rapidly with increased product development in new geographical markets leading to a number of new significant revenue streams.”

The online casino gambling group’s specific revenues indicated a remarkably high percentage increase in poker revenue over the previous year; with $27.4 million reported, the company showed a 269 percent increase from 2006. As for the total revenues for the year, total revenue at the online gambling group increasing 86 percent to come in at $103.6 million. A 58 percent in the online casino revenues put the company at $74.7 for 2007.