Home / Poker News January 2009 / Playtech defies global economic slowdown, registers unprecedented Q4 growth
Playtech defies global economic slowdown, registers unprecedented Q4 growth
Posted by: James Carter. - Sat, 2009-01-31 18:38
The global economic downturn is certainly affecting pretty much everything these days, including the online poker industry, as specialists are increasingly mentioning the word ‘recession’ instead of ‘slowdown’. Apparently however not all is bleak as far as the poker industry is concerned. Playtech, one of the world’s largest online poker and online casino software providers have announced that their 2008 key performance indicators are showing an unprecedented growth and revenue increase for the 4th quarter of last year.
Long regarded as a recession-proof industry, poker and gambling have seen their fair share of slowdown in 2008, with several poker rooms closing and online gambling operations teetering on the edge of bankruptcy.
According to the released reports, Playtech has registered a 52% increase in total revenue compared to the same period of 2007, with online poker having increased 48% and casino gambling 52%. The biggest growth was registered in the Asia-Pacific region, where Playtech’s revenues have jumped 141% even though it’s still good old Europe where the majority of the operation’s revenue comes from.
The European market accounts for around 66% of Playtech’s total revenues, with the Asia Pacific market lagging behind at around 28% despite the spectacular recent growth.
According to Playtech officials, the company’s move towards the regulated Italian poker market has paid huge dividends, well above expectation, and despite the fact that it was a relatively late Q4 move, it was responsible for a significant part of the revenue increase in the European sector. The participation in William Hill Online, a joint venture with known UK bookmaker William Hill, with a 29% share was also hailed as one of the key initiatives of the company in 2008. That share can increase to 32%, and Playtech was put in charge of providing the online poker and casino software for the undertaking.
Playtech officials have pointed out that the company’s policy to make the most of every opportunity that presented itself was largely responsible for the successful expansion of business. The excellent Q4 results mean that Playtech will probably meet its expectations business-wise for the entire past year.
