Poker Gives Playtech Total Profits a Boost

As of May 10, 2007, Playtech, a well-known software manufacturer has experienced a 14% improvement in profits for the 1st quarter of 2007, mainly thanks to the game of poker. Revenues for 2007 are at $19.8 million compared to the $17.4 million during the 4th quarter last year.

However, profits slid down to about 5% on Playtech's $20.8 million during the same period last year. Nonetheless, Playtech Poker rooms like Titan Poker, Fair Poker and CD Poker contributed greatly in improving the profits for this year.

Profits from gaming are at $4.2 million, a 56% improvement from the $2.7 million earned last quarter. Casinos contributed around $15.2 million, which is also quite an improvement compared to last quarter's $14.4 million casino profits.

Despite the improvement in profits, the year-on-year revenue of Playtech slid down about 5% because of the online gambling ban in the United States enforced on October 13, 2006.

But the British based company is hoping for a good performance in 2008, expecting the optimal forecast of $88.7 million in pretax revenues for 2008. This marks a historical performance from the industry expert's estimation of about $69.2 million of total profits this year.

May 20, 2007
Michael Orwell