The Online Poker Player Resource

Playtech did well this year in terms of revenues despite having loss its US customers due to the UIGEA that prevented Americans from playing online poker. Revenues for Playtech ending on June 30, 2007 from continued operations were at $44 million; this is an 80 increase while poker revenues showed a 275% increase; this is naturally due to the migration of Tribeca’s customer base onto Playtech’s networks.

Playtech’s success however did come at some cost. Although their revenues did show a great profit, the company had to put more funds towards marketing, sales, and operating expenses in order to push through the ramifications of the UIGEA that passed in October of 2006. Playtech has cleverly created new products and gathered customers from new markets, but they do not compare to cash cow that is the United States.

Playtech’s current mission is to stay focused on the European markets. They have, in the last six months, converted many of their casino and bingo products over to flash; the preferred technology by many European gaming markets. Furthermore, Playtech is planning on making large moves such as buying out some of their competitors in the European markets. Playtech Vice Chairman Avigur Zmora said to Reuters "We are looking for the opportunity and when the opportunity is there we usually move very quickly. We think that this is the right time to prepare the company to be almost the only alternative out there." Playtech however will be in a great position when if the American Markets become available again.

Playtech also has its sight set on the Asian Markets. In the works for the Asian markets is a new P2P network and they have just integrated their new Indian and Philippine development centers.

Mor Weizer, Playtech's Chief Executive, had this to say about the expansion, "The Group has further strengthened its foothold through the development of its relationship with existing licensees and through gaining additional licensees, as well as developing products specifically aimed at the Asian markets. We are also focusing on cross selling opportunities to existing licensees through the addition of supplementary gaming products. Playtech has a very healthy pipeline of new business for the second half of the year and we look forward to making continuing strong progress."