Playtech reports strong start and M&A pipeline

Despite a hiccup over the launch of a bingo partnership, Playtech said it has enjoyed a "strong performance" so far 2017 and was engaged in "active discussions" over a range of potential acquisitions.

Ahead of its annual shareholder meeting, chairman Alan Jackson said the strong performance had been driven by organic growth and recent acquisitions.

"Growth in daily average revenues in the gaming division in the year to date remains strong with organic growth supplemented by acquisitions made in 2016 and 2017 including BGT, Quickspin, ECM and Eyecon," he said.

After the move of Sun Bingo onto the Playtech platform proved more challenging than anticipated, as was highlighted in February, the company said the performance had improved thanks to some recent strengthening of the management team.

Jackson said the financials division has performed in line with expectations, with continued growth in the business-to-business arm and improved business-to-consumer performance, while the CFH acquisition continues to perform well.

"Our M&A pipeline remains strong and we continue to have active discussions with a range of businesses in the gaming division as well as discussions for selective bolt-on acquisitions in the financials division," he said.

"The board has confidence in the continued success of Playtech and of the business meeting its expectations for 2017."