Playtech all set to start a spending spree

index   April 5, 2016   Comments Off on Playtech all set to start a spending spree

Playtech, the Gambling software development company, might be all set to venture on a spending spree after it brought out it was in active talks over several possible acquirements after a report that the company’s yearly revenues went up by 38% for the year of 2015.
Playtech, the iPoker Network owners, saw profit rise to €630.1 million in the year 2015 from €457.0 million in the year 2014. Its Earnings Before Interest, Taxes, Depreciations and Amortization, a number which is utilized by several firms to showcase financial performance, increased 22% to €251.9 million.
The gaming division of the company goes on to perform very strong with dual-figure growth when barring acquirements, the costly impact of United Kingdom Point of Consumption Tax, white-label as well as currency exchange rate variations. Playtech states that revenues from regulated nations are increasing suite faster than any of other markets, and now it account for forty-one percent of its revenues, up from 36% in the year 2014.
Another place of Playtech portfolio that goes on to develop is their financial division. It is relatively a new business for the gaming giant that contributed $66.5 million in profits after acquisition costs were taken into thinking. This is the financial sector which Playtech has been trying to gain a foothold in.


During the year 2015, Playtech got TradeFX, a foreign exchange broker, for $224 million, but withdrew from the projected acquisitions of both Plus500 as well as Ava Trade, something Chairman of Playtech Alan Jackson termed disappointing.