Playtech Posts Positive Growth Stats AgainTia Winter | 14 March 2018
Popular online gaming expert Playtech is experiencing impressive growth of late, which it has attributed to its strategic M&A action which has provided strong dividends across the firm. Playtech achieved the necessary growth in 2017 to remain up to date with its growth strategy for 2018 as well, according to the firm’s most recent financial report.
The firm’s key figure was its total revenue, which grew to €807.1 million ($992.1 million) during the 12 months of 2017. This represented a positive increase of 14% over the €708.6 million posted in 2017, showing a consistent increase in the company’s most important fiscal marker.
Other notable increases were present in Playtech’s adjusted earnings before interest, tax, depreciation and amortisation (EBITDA), which improved by 7% to €322.1 million in 2018; adjusted net profit, which increased 14% to €231.4 million; reported net profit, which grew 28% to €248.1 million; adjusted diluted earnings per share, which increased 14% to 66.8 cents (€); and total dividend per share, which grew by 10% to reach 36 cents (€).
54% Strategy-Led Revenue Growth
Playtech has also already taken measures to prompt realistic expectations from its shareholders, especially considering a recent November warning of uncertainty in Asian markets. A new contract with Sun Bingo has also contributed to this cautious move, which Playtech Chairman Alan Jackson has referred to as ‘headwinds’ in the firm’s regulated and unregulated operations.
Jackson also noted that the revenue generated by Playtech in 2017 translated to a 10% increase in the firm’s full-year dividends. Playtech’s strategy for 2017 and 2018 was to boost the group’s quality of earnings both organically and through M&A activity. The efficacy of this strategy was notable in the firm’s 54% increase in regulated revenue for the full year.
New Casino Deal Signed With OEG
Playtech’s latest big development is a long-term deal with Olympic Entertainment Group, which will see them expanding their delivery of Neon casino technology to an international operator. OEG will link over 100 casinos in five nations to a massive network of over 3,500 gaming machines and 150 gaming tables in its comprehensive casino management system.
Commenting on the deal, OEG Chief Information Officer Oleg Jurtšenko noted that his firm is looking forward to taking full advantage of Neon by integrating it across all of their global operations. He also applauded Playtech for understanding his company’s unique requirements, and for being eager to adapt their Neon technology to OEG’s needs.