Playtech Reported Skyrocketing Revenues For 2023

The world famous online gambling software provider, Playtech Limited, has recently released a trading update bringing to light its performance of the 2nd quarter of the year 2023. This trading update showed just how their profits have greatly increased, a staggering 99% year-on-year rise for a total of $102.2 million.

Revenues Elaborated

During the 1st quarter of 2023, this last figure was up by 5% and had improve the 3 month period time income of 82% year-on-year to $114.6 million. The revenues of the casino for the 2nd quarter increased by 36% year-on-year for a total of $48.3 million. This was a small 8% improvement from the last quarter. On the other hand, the poker revenues dropped by 12% if compared to the same period of time last year.

The bingo section saw a 21% year-on-year rise of up to $5.8 million and had a 1% improvement on the last 3 months. Earning from Videobet reached over to a $3.64 million which represents a 36% boost over last year’s revenues and a rise of 15% from the 1st 3 months of 2023.

Last but not least, the revenues from services had a rise of 4% year-on-year to about $34.9 million. At the same time, Playtech took its share of profits from its joint venture it has with William Hill which also saw a rise of 7% to reach up to $12.35 million.

Words Of Playtech’s CEO

After this outstanding performance from Playtech, the CEO has these following words to share:

“First-half performance for 2023 has been very encouraging and all products with the exception of poker have achieved strong year-on-year growth,” said Mor Weizer, Chief Executive Officer for Playtech.

“I am also particularly pleased that Playtech achieved a Premium Listing on July 2, which marks the company’s exceptional progress since listing on the Alternative Investment Market in 2006.

“The services division has delivered a very impressive performance and surpassed the accelerated payment threshold. This uniquely positions Playtech for future strategic revenue streams as markets continue to regulate. Although we anticipate a seasonal slowdown during the traditionally weaker summer months, I believe that the company is well positioned to maintain the momentum into the rest of the year.”