Playtech is a world renowned online casino software provider that produces casino games like bingo, slots, blackjack and roulette for online casinos. An increased demand for these types of games has seen the software giant post better than expected results in the first half of 2012 with a 64% increase in earnings.
According to the group’s CEO Mor Weizer, Playtech has seen a good performance across the board in its bingo, casino and mobile sports betting platform Mobenga. He further stated that mobile gambling is becoming on the fastest growing segments within the industry and that social gaming was becoming increasingly appealing, especially due to the fact that Facebook recently began to allow its users to play for money on their platform. According to Weizer, the convergence between real money gambling and social media is almost inevitable.
Playtech recently reported adjusted earning prior to tax deductions, interest, depreciation and amortisation (EBITDA) of a massive 91.2 million Euros for the first half of 2012 on revenue which more than doubled to 154 million Euros.
Weizer also stated that the organisation has seen a strong start to the third quarter which is traditionally a quieter period due to the fact that is summer in the Northern hemisphere and many gamblers are away from their PC’s and out enjoying the summer months. Nevertheless, daily revenues are up over 25% in comparison to the same period last year.
Group share prices have also increased by 4.6% to a three month of high of 390 pence. Analysist believe that the group will see a rise in their expected market consensus for the full year to rise above the estimated 165 million mark. Nick Batram at broker Peel Hunt stated that the results were slightly ahead of expectations and said that “With a strong start to Q3, the risks to forecasts look firmly on the upside.”
With strong results like this, online gamblers will be sure to continue to enjoy Playtech powered online casino games and also perhaps see a few new and exciting developments in the years to come as a portion of profits are re-invested into software development.
If British Culture Secretary Jeremy Hunt has his way UK based online gambling fans will be provided with the fastest internet in Europe in the near future.
In a meeting held at Silicon Roundabout Hunt revealed that he aimed to make truly high speed broadband internet available to over 90% of the UK by the year 2015 in order to ensure better efficiency and increased business profitability across the board.
He stated that in order to be the best you need to be the fastest and that it was his aim to ensure that the UK have the fastest broadband of any major European Country. He further stated that getting the “plumbing” right for the digital economy would not just benefit consumers but also creative and digital industries who rely on high speed networks in order to develop and export products as well as maximize profits.
According to The Guardian newspaper, Hunt’s commitment apparently follows a House of Lords Report on the national broadband strategy that was published in July 2012 and the published results from Freelancer.co.uk’s study which indicated that more than half of all executives from 1500 internet dependent organizations believed that poor quality internet had adversely affected their business. Findings also showed that 65% of executives believe that a rural-urban divide exists with remote areas being unable to take advantage of new business opportunities as a result of lower broadband speeds.
According to technology company Akamai’s quarterly speed league table, Britain is currently ranked 15th in Europe when it comes to internet speed behind countries like Sweden, Norway, Denmark and Germany.
The British Government is now striving to achieve coverage and superfast internet speed (24Mb per second or more) in 90% of the country in the next 3 years with the remaining 10% running on no less than 2Mb per second lines.
The House of Lords communications committee on the other hand has urged ministers to focus instead on building the appropriate technologies and well as encouraging the provision of fibre-optic lines to as many British homes as possible.
Either way, online casinos and British punters who enjoy playing the many online casino games will benefit greatly from these new developments.
After months of speculation regarding the entry of social media giant Facebook into online gambling for real money, the UK’s Financial Mail has reported that Facebook has in fact taken the plunge into offering casino games for real money. Its new online gambling offering will initially only be available within the United Kingdom to punters over the age of 18.
This means that British players over the age of 18 are now able to play online bingo for cash prizes. It has also been reported that online slot machines will be added to the offering in the weeks to come.
According to Facebook’s head of gaming for Europe, the Middle East and Africa, Julien Codorniou, Gambling is an extremely popular and well regulated pastime in the UK and for millions of bingo players it is already a social experience, so it makes sense for Facebook to offer it as well.
This development confirms the long standing rumours that Facebook was considering entering the real money gambling market in order to boost revenues. According to the Financial Mail, Zynga, Facebook’s most prominent gaming partner is looking into introducing real money gambling versions of its bingo, poker and slots games in the year to come.
At present and for the foreseeable future, the United States will be off limits due to legal and political issues regarding remote gambling. Going forward Facebook will however expand its offering to the various European countries that have formalized online gambling laws and regulation.
According to Clive Hawkswood, CEO of trade body the Remote Gaming Association, Facebook’s recent move is a significant development. He stated that “Bingo is at the softer end of the gambling spectrum and online bingo often has chat forums alongside so it’s an obvious match for Facebook. A lot of people have asked why we haven’t done it before but this has been because there’s a difficulty in monetizing what they have – this is one way of bringing in revenues.”
Facebook in joint venture with Gamesys (one of the United Kingdom’s largest online gambling operators) will launch the Bingo Friendzy application to target the social network’s large online audience. According to Codorniou Facebook will act as a distribution platform for Gamesys who will provide the games for Facebook’s multi-million strong audience. He also mentioned that Facebook was in talks with other gambling companies with regard to expanding its offering to include other popular online casinos games like roulette and blackjack but at present no concrete agreements have been made.
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