Playtech Limited, the online gaming software supplier which has registered office in the British Virgin Islands, announced interim results for the six months ended 30 June 2007. The BVI company reported total revenues for the first half of the year in the amount of $44.0 million – 80% more than in 2006 ($24.5 million). Casino revenues increased by 53%, to $32.6 million from $21.3 million in 2006. Poker revenues were up by 275%, to $10.5 million ($2.8 million in 2006).
It is also notable that currently monthly royalty run now achieved the peak levels of pre-October 2006, when the US Congress passed the new Internet gambling law which made most online gambling companies to lose their positions. Company earnings before interest, tax, depreciation and amortisation in the first half of the year made US$30.7 million – up 2% compared to the year 2006. Interim dividends in the amount of approximately US$13 million, – 6.1 cents per share – are to be paid on 19 October 2006.
The BVI-based Playtech Limited defined its main goal as enhancing its position of the world’s leading software solution provider to the gaming industry. It is reported that in the last six months, after acquiring assets of Tribeca, Playtech’s poker network has become the world’s largest independent network. Also, during the first half of 2007 Playtech successfully integrated its new development centres in India and Philippines, and has firmly established its subsidiary in Bulgaria. In this period, a record amount of 12 new software licensees (8 of them migrated from Tribeca) was signed up by the company.