Playtech Limited
(“Playtech” or “the Company”)
Annual General Meeting statement
At the Annual General Meeting of Playtech Limited this morning the Company's Chairman, Roger Withers, made the following statement:
"I am pleased to report another year of growth and progress by Playtech with excellent top line performance and strong growth in EBITDA. In 2011 gross income increased by 41% to €243.6 million and revenues by 46% to €207.5 million. Adjusted EBITDA rose 22% to €125.5 million, including the Group's share of profit from William Hill Online.
The Board and its advisers are committed to moving to a Premium Listing on the Official List of the London Stock Exchange and preparations continue to progress well. A prospectus will be published and an application made for the move, as soon as possible.
Turning to current trading, the strong performance experienced in the first quarter has continued in the six weeks since the end of March. PTTS has outperformed expectations and the Group is preparing for regulated activity in the German and Spanish markets which is anticipated to commence later in the year when licences are granted in Schleswig-Holstein and Spain.
Our joint venture with William Hill, William Hill Online, continues to perform strongly and demonstrates Playtech’s ability to forge significant earnings enhancing partnerships with leading gaming businesses around the world. The stake in William Hill Online is a valuable asset for the Company.
As ever, Playtech's continued success could not have been achieved without the commitment of the executive management team and everyone working for the Company, and I thank them for yet another excellent performance in 2011.
In conclusion, after an exciting year of progress and investment, we believe Playtech continues to perform strongly and is well positioned for continued growth. We remain confident of the Company's future prospects and look forward to further progress in 2012."
| For further information contact: |
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| Paul Wright |
01624 645957 |
Company Secretary and Legal Counsel
Playtech Limited |
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