Playtech Q2 Income Up 23%

Playtech, the operator of the iPoker network has just announced its second quarter results for 2009. The company's gross income of €33.1 million means that the results are up 23% from the same quarter a year ago. For the first half of the year, Playtech registered €66.9 in gross income, up 29.8% from the €51.8m figure reported in the first half of 2008.

Revenue from its poker operations contributed to about 30% of the Q2 revenue. The total reported revenue for the group stood at €27.0m, with poker contributing €8.2m. Revenues for the quarter were slightly below those reported in the first quarter. Total revenues were down 4.2% while poker revenues were down 6.4% from the previous quarter.

Asia Pacific The Source Of Growth

The Asia Pacific regions remains as the main engine of growth for Playtech according to its latest results. For the current quarter, this region contributed 32% to total revenues, this represents a significant increase from the 21% in Q2 2008. Meanwhile, Europe remains the main market for Playtech as 62% its of latest reported revenues were generated from Europe. This however is down from the 72% in the same quarter last year.

These 2 regions will remain extremely important to Playtech as their iPoker network does not accept players from the United States. Sites that are on the network include PokerStrategy affiliates Mansion Poker and Titan Poker. It is the third largest network after PokerStars and Full Tilt Poker. It is however the largest among the network sthat do not accept players from the US.

In an announcement to investors, the company cautioned that its performance for the year might be below market expectations. This is due to the challenging economic climate and a poor start to William Hill Online, its joint venture with bookmaker William Hill. However, they remain confident that Playtech will be able to register a healthy growth in 2009.