Playtech Reveals High Revenues

Playtech has been a longstanding name in the online gaming industry. Providing software and services for some the internet's largest casinos. The company is growing by leaps and bounds, showing no signs of stopping any time soon.

Beyond Playtech's reported revenues of €75.1 million for the first quarter of 2012, the brand had entered into a non-binding memorandum of understanding with intent to potentially acquire various businesses and assets to the tune of €95 million from bodies linked to Teddy Sagi, the company's largest shareholder. However, this morning the London Stock exchange announce the memorandum had been amended by Playtech, forgoing acquisition to instead enter a software license agreement concerning the aforementioned assets.

Earlier this year Playtech acquired Ash Gaming Limited, a predominantly Slots focused brand noted for its fixed-odds games and virtual racing content. The name won accolades from contemporaries and was commended for its 'innovation in Slots production' by e-Gaming Review in 2010. Playtech praised the acquisition as the brands' licensees are well-known to both parties, which has strengthened relationships overall in the UK and continental European markets.

Recognizable names under the Playtech umbrella include, Videobet, Intelligent Gaming, Virtue Fusion, and Mobenga just to name a few. As one of the key players in online gambling software, Playtech is a name sure to maintain presence in the online world of gambling and turnkey services.