Playtech’s non executive chairman, Roger Withers, commented on the software provider’s 2011 full year financial results, saying that these were “exciting times for Playtech, which has once again delivered an excellent set of financial results and has consolidated its position as the clear market leader in the provision of software and services to the online gaming industry.”
Playtech’s financial results for 2011 showed that total revenues had increased year on year by 46% to €207.5 million, while gross income for the group grew 41% to €243.6 million. The group’s net cash balance had doubled to €137.3 million, compared to 2010, while around €100 million had been raised in the last month of the year in order to support joint ventures and fund acquisition deals.
Withers said that Playtech had “developed its product and service offering to encompass all aspects of online gaming including a full suite of products, cutting edge management systems, integration with land based operations and the marketing and other operational skills that enable operations to get the most out of their online businesses.”
The executive noted that Playtech was continuing to focus on regulated markets with organic development and targeted acquisitions that would “ensure it can take best advantage of the opportunities created by the structural changes underway across the worldwide gaming industry.”
Playtech continues to provide online casinos with some of the best software in the business and has made a name for itself due to its great graphics and high jackpots.
