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Outstanding Results at Software Provider

The Playtech online casinos software development company has announced some truly impressive results for the first quarter of the year. Across the board it seems that many intenret gambling companies have reported an above average Q1, but for some companies the quarter was extremely lucrative and saw phenomenal growth. Playtech reported not only growth on the past quarter’s report, but also nearly double revenues from the same period the previous year.

The CEO at Playtech online casino software development company, Mor Weizer, only had positive comments regarding the past quarter. He notes, “This has been an outstanding quarter for the group, registering impressive month on month revenue growth." The outstanding growth mentioned included an increase of 97 percent from first quarter of 2007 – that is astronomical growth in the online casinos gambling sectors of the industry because of the extreme amount of competition in the industry. Playtech has succeeded in developing a coveted gaming platform and product that has continually performed well in the past year.

The revenues for the quarter came in at $39 million compared to the $19.8 million in the first quarter of 2007. Weizer went on to note that the company anticipates continuing to turn in positive results and will remain competitive in the online casinos gambling industry in the coming year. He remarks, "The addition of new licensees during the period and the anticipated full roll out of the new Asian P2P games and Flash Poker mean the group is well positioned to grow in Q2 and beyond.” The Asian industry increasingly viewed as the next huge booming online gambling market, and Playtech is working to establish a foundation in this region.