Playtech Reports Massive Q1 Revenues - 05-08-08

May 8 - A number of factors clearly contributed to the successful first quarter revenue report announced by the industry-leading Playtech Limited this week. The company said that it was pleased with the $39 million in revenues that it managed to pull in, especially since this number was 97% more than figures presented in the same time frame in the previous year.

The strongest contributor to Playtech's revenues was its casino operations, which brought in over $29 million of the general total. This was 79% more than the previous year and 19% more than the last quarter of 2007.

Playtech's poker offerings also managed to contribute successfully to the company's revenues. It's iPoker network showed strong liquidity and is expected to do even better than the $11 million earned in the past quarter, due to greater exposure as the official host of the European Championship of Online Poker later this month.

Other factors, such as nine new licensee agreements from the beginning of this year, as well as the launching of the long awaited Asian P2P games, were strong contributors to the record revenues reported by Playtech this week.

In response to the release of the report, Playtech's CEO, Mor Weizer said: "This has been an outstanding quarter for the Group, registering impressive month on month revenue growth. The addition of new licensees during the period and the anticipated full roll out of the new Asian P2P games and Flash Poker mean the Group is well-positioned to grow in Q2 and beyond. The group continues to pursue significant business opportunities all across the regulated markets and the Board is highly confident regarding the Group's trading performance for Q2 and beyond."

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