UK-based Playtech Profits Thanks to New Gambling Laws in France, Italy, Estonia

UK-based casino software giant Playtech is reporting strong results for the first half of 2010, thanks mainly to new gambling laws in France, Italy and Eastern Europe. 

Playtech’s gross income increased by 31% to €87.9 million through June, and total revenues jumped 29% to €72.9 million. Playtech was also happy to announce that its partnership with William Hill to provide a sportsbook and online casino in the UK and Europe was worth over one-third of its turnover, with €60.8 million gross coming from Hill. 

But also key to the Playtech growth were launches of Internet bingo in Italy, the Olympic online casino in Estonia, and its French poker room network. Playtech will next be expanding into Finland and Spain, as well as providing technology and games for Betfair’s no-download casino offering. 

Playtech’s poker income did decrease in the first half of 2010 by some 5% to €15.8 million, but executives reported that their France-based poker network was helping offset some losses when casinos had to pull out of the country under the new French gambling laws that went into effect in June.