News and Promotions Positive First Half Results for Online Bingo Provider Playtech
Positive First Half Results for Online Bingo Provider Playtech
Monday, 04 October 2010 - 23:02
For many online gaming companies, there has been considerable upset in financial figures for the first half of 2010, but software provider Playtech has come out on top as one of the highest earners for the period.
The company’s income was reported to have seen an increase of over 30% to €87.9 million. One reason for this huge rise in revenue has been Playtech’s strategic business moves, which have included the recent accusation of Virtue Fusion and a lucrative partnership deal with William Hill. Of course, the World Cup proved to be a huge money spinner for the first half of the year and through the deal with William Hill they earned a total of €15 million – a year-on-year profit of 45%.
Even though Virtue Fusion came with a cost of over €37 million and has only, to date, generated €4.5 million, this move provided Playtech with the largest network in the bingo industry. And now that so many bingo sites are controlled by one software provider (William Hill, Mecca and Virgin to name only a few) this will mean bigger promotions and prizes for the players.
