Online Poker Helps Boost Playtech 4th Quarter Income, Revenue

Written by:
Aaron Goldstein
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Isle of Man-based online poker network and software developer Playtech reported Tuesday its 4th quarter income rose by 14 percent to 43.9 million euros or $60 million US.  Revenue climbed 21 percent to 36.9 million euros. 

Founded in 1999, the company operates as, the third largest online poker network in the world after PokerStars and Full Tilt.  They do not accept US customers at this time.  One of its biggest brands is the William Hill Internet card room, which alone witnessed a 37 percent increase in overall profit.    

“The Board is comfortable with expectations for the year ended Dec. 31 2010 and looks forward to 2011 with confidence as another year of significant development,” Chief Executive Mor Weizer said in the statement.

Playtech also said today it bought IGS, a developer of casino management systems for 2.5 million pound cash ($4 million), according to the statement.  

- Aaron Goldstein,

Business/Financial News