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Wednesday 5th September 2007
Online gambling software firm Playtech has announced that its Finance Director is to leave as the company posted first-half revenues nearing those it saw before the passage of America’s Unlawful Internet Gambling Enforcement Act (UIGEA) last October.
Playtech provides online gambling sites with games such as poker, blackjack and roulette and said that revenue from casino games reached $32.6 million in the six months before June with revenues of $10.5 million from poker.
The Israeli-run firm said that Shuki Barak had asked to leave his role as Finance Director for personal reasons. Non-Executive Chairman Roger Withers said that a replacement would be announced very soon and would be an externally appointed Israeli with public company experience.
Playtech’s software runs some of the world's largest online poker networks and it said that it had a healthy pipeline of new business lined up for the second half of the year.
'We see internal growth of our existing licensees and we are currently piloting with a potential Asian licensee for Asian player-to-player games, which is a huge opportunity for us,' said Mor Weizer, Chief Executive for Playtech.
He said that European licensees were adding new games such as bingo and that the company was close to launching a new player-to-player network in China through Foundation Group, which is part-owned by the government. Online gambling firms are keen to gain access to China's 75 million Internet players and, although online gambling is outlawed in China, cash-prize poker-style online tournaments can be run in the country's 20,000 government regulated Internet cafes with Foundation having already been granted permission to run such tournaments.
The firm also announced that it was developing software for computer-linked gaming machines in bricks-and-mortar casinos and would be announcing a significant addition to its poker network in the near future.
Source: OnlineCasinoNews
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