Playtech third quarter revenues grow across the board

Gambling and software and services supplier Playtech reported strong trading in both of its divisions in the three months to September.

The FTSE 250 group said third quarter revenue surged 47% year-on-year to €170.9m, driven higher by a 23% increase in the gaming department revenue to €143.4m, while the financial segment posted revenue of €27.5m without a prior year comparison.

Playtech added it was in the process of completing the acquisition of contracts-for-difference provider Plus500 and expected to receive regulatory approval to conclude the transaction by the end of November.

Meanwhile, the company is formally challenging the Central Bank of Ireland’s decision to oppose its acquisition of contracts-for-difference broker Ava Trade.

“We hope to complement our growth with the completion of the acquisitions of Plus500 and Ava Trade," said group chief executive Mor Weizer.

"Given the strength of our business and the momentum that we are enjoying, we have confidence for the remainder of 2015 and beyond.”

Playtech shares were up 3.58% to 820.84p at 0842 GMT on Thursday.