Playtech Reports a Profitable Third Quarter: 1

Playtech recently released the numbers for their last quarter and thing are looking great for the online casino software provider. The numbers were representative of a very successful 2008 third quarter. There was a change in how the online casino software provider reported its numbers. This time around they converted all of their revenue into Euros and they did it at a set rate of $1.5777 to the Euro. In comparison to last year’s third quarter numbers, the company’s numbers rose an impressive 67 percent, from Euro 17 million to Euro 28.5 million. Their poker sectors also did remarkably well in this last quarter, reporting an increase of 88 percent, or Euro 21.5 million.

Playtech’s third quarter numbers have outshined a lot of their competition in the online casino realm due to their perseverance. The management of this company made some big changes for their online casinos including four new licensing agreements that were signed in the third quarter. These new licensing deals add a few very recognizable names to their line up of operators those names include Cogetech SpA, Eurobet Italia, and Sistal SpA, all of those companies are based out of Italy. In the third quarter the company sent out three official memorandums that outlined the jurisdictions in which their operators would be regulated by.

Another big part of the company’s success has to do with the online casino they merged with their Mansion poker room. The poker room, Mansion, joined the very successful network of online casinos that you may have heard of, iPoker. The merger of these two websites was completed in September of 2008 which helped boost the impressive third quarter numbers. The company also had a new sector of their online casinos launch in the third quarter and should be completed by the fourth quarter. The folks over at Playtech want to have a play-for-fun website which will let curious players try out their games for free and then hopefully they will move on to the other online casinos to wager and hopefully win big.