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Online Poker Helps Boost Playtech 4th Quarter Income, Revenue

Written by:
Aaron Goldstein
Published on:
Jan/25/2011
Playtech

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 iPoker.com, 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, Gambling911.com

Business/Financial News

Cryptocurrency Trader Charged With Fraudulent Scheme Involving Over $5 Million

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Bitcoin Slumps 10% as Pullback From Record High Gathers Pace

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Bitcoin slumped 10% on Thursday to a 10-day low, retreating further from record highs, with traders citing fears of tighter U.S. regulation.

Bitcoin Hits One-Week Low as Rising U.S. Yields Dent Rally

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Cryptocurrencies plunged on Monday, with bitcoin dropping more than 12% to a one-week low

Bitcoin Hits $38,000 for First Time, Pushing Cryptocurrency Market Value Past $1 Trillion

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Bitcoin smashed through $38,000 to hit a new record high on Thursday as the cryptocurrency’s massive rally continues, then the $39,000 mark just prior to 11 am ET, and by afternoon the price peaked at $40376.

PayPal Backs Crypto Tax Startup Taxbit

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PayPal Holdings Inc’s venture arm has made an investment in Salt Lake City, Utah-based tech startup Taxbit, which helps consumers and businesses calculate the taxes owed on cryptocurrency holdings, the companies said on Thursday.

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