Playtech momentum continues into 2016, chairman says

As investors in gambling software developer Playtech gathered for its annual general meeting on Wednesday, chairman Alan Jackson spoke of the company’s momentum continuing into the current financial year.

“Growth in daily average revenues in the gaming division in 2016 remains in line with the growth experienced in the first 53 days of the year as reported at the time of the 2015 full-year results in February,” Jackson said.

“We also look forward to the new licensee wins that we secured in 2015 contributing to our future growth and our pipeline of new opportunities remains very strong, with significant wins expected in 2016.”

Jackson explained that, following improvements made to the business model during the fourth quarter of 2015, the financials division has performed in line with expectations against the backdrop of high market volatility in January and February.

That performance has driven the strong start to the year, he said, followed by a period of lower volatility from March onwards.

“Our pipeline of merger and acquisition opportunities remains healthy with active discussions in the gaming division, as well as discussions for selective bolt-on acquisitions in the financials division,” Jackson said.

“As we stated at the time of our 2015 full-year results, should acquisitions not be available, consideration will be given to returning cash to shareholders as we look to maintain an efficient capital structure.

“We remain confident of continued success and strong growth in 2016 and beyond,” Jackson confirmed.