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Playtech Strategy Paying Off

Playtech’s recent deal with Olympic Entertainment Group (OEG) is the latest in a long stream of deals and moves made by the company that have seen them post record growth in 2017.With total revenue up some 14% to €807.1m year-on-year, it is clear the necessary growth was achieved, and Playtech can look to strengthening their position in 2018.

Other gains

Gains were seen across the board in 2017 with Playtech’s adjusted earnings (before tax and depreciation) for 2017 were up to €322.1m, a 7% rise on the year before, while adjusted net profit went up 14% to €231.4m, and net profits took a huge 28% jump to €248.1m.Alan Jackson, Chairman of Playtech, pointed out that there were “headwinds in both regulated and unregulated operations” referring to the instability of Asian markets and a newly signed deal between Playtech and Sun Bingo.playtechJackson went on to state that the total revenue generated in 2017 led to a 10% increase to the full year dividend, up to €0.36.The OEG dealAs mentioned above, Playtech have struck up a deal with OEG that will see the trademark Neon technology made available to the land-based casino operator that will allow some 3,500 electronic gaming machines and well over 100 gaming tables to be hooked up to over 100 casinos via its casino management system.Speaking of the deal, Chief Information officer at OEG, Oleg Jurtšenko, said:“We are looking forward to taking full advantage of Neon by operating the system across all of our international operations. We evaluated all the leading systems and selected Playtech because of their understanding of our requirements, modern architecture and willingness to adapt Neon to our needs.”With such a possibly lucrative deal already under their belts this year, we can expect more growth from Playtech in 2018.

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