Posts Tagged ‘virtue fusion’

Playtech Posts Impressive 2010 Results; Online Casino Product Still Strong

Sunday, August 29th, 2010

What can I say, Playtech Software has been making some news this past week. Well, let’s face it, Playtech likes to make news all the time – and why wouldn’t they? Being one of the top, white label online casino software developers in business today, Playtech has no choice but to keep broadening it’s reach across the many, vast sectors of the online gambling industry if they are truly serious about staying on top of their game, not to mention procuring the profit margins necessary for continued expansion.

Well, that’s exactly what has made Playtech such a successful software developer…Err, I take that back. Playtech is not just a software developer for online casinos and poker rooms – they’re more like an online gaming solutions B2B supplier.

Case in point is Playtech’s first-half financial results for 2010, which compared to many of it’s top competitors, is quite impressive. Gross income was up a massive 31% from last year, tallying in at €87.9 Million, while total revenue was up by 29% with a price tag of €72.9 Million.

Much of Playtech’s growth has come from B2B partnerships with leading online betting companies, such as William Hill, as well as acquisitions of up-and-coming niche B2B gaming companies, such as Virtue Fusion. Regarding the William Hill partnership formed in late 2008, which gave Playtech rights to power online casino and poker software solutions for Will Hill Casino Online and Will Hill Poker, cash revenue generated from Will Hill doubled to €60.8 Million from 2009. The fruits of Virtue Fusion’s acquisition in February of this year are yet to be fully realized (generating over €4 Million in less than six months), however, future activity looks promising, with Playtech reporting there are several online bingo licensee prospects in the UK and abroad in development currently.

Elsewhere in the world, Playtech says it will be gaining a foothold and expanding in newly regulated internet betting markets, including Italy, Spain, Finland and perhaps, France. Due to a turn in regulatory policies in France, Playtech’s revenue generated from online casinos will be impacted, however, counterbalanced with new licensees and growth in Playtech’s French online poker network. In the U.S. (if and when regulation opens up here), expansion will manifest via partnerships with Scientific Games and Sportech (see previous article: Playtech Sets Sights on U.S. Market).

Playtech online casinos, which are the company’s principal product offering, has continued performing strongly, increasing revenue by over 30% (€49.1 Million) from 2009. The only area in which Playtech saw a revenue loss, which has been in line with the rest of the industry, was online poker. Down by 5%, poker revenue came in at €15.8 Million, which Playtech’s Chief, Mor Weizer, attributed to the World Cup. FYI, anyone familiar with Playtech’s iPoker network knows the World Cup isn’t entirely to blame. If there has ever been an area where Playtech has lagged behind, it has been online poker.

As for the remainder of 2010 and beyond, Playtech says a launch of Betfair’s Flash online casino is on schedule for September, while the launching of RAY in Finland is set for the fourth quarter and Casino Gran Madrid will go live in early 2011.

UK Online Bingo Room, Mecca Bingo, to Offer Branded “Blockbusters” Bingo Game Shortly

Thursday, July 1st, 2010

blockbustersDepending on how old you are (if you’re reading this, hopefully old enough to gamble online), you may or may not remember the game, “Blockbusters”. A bingo variant that stormed the gaming scene back in the 80’s, “Blockbusters” gained enormous popularity – namely in Britain – due to a quiz game show of the same name being aired for nearly twenty years straight.

Bringing “Blockbusters” back – well, to the world of online gambling, that is – is leading European facing online casino and gaming software developer, Playtech. Bridging the gap between Playtech and the British online bingo community is Virtue Fusion – the leading licensor of online bingo products in the UK. As part of a licensing agreement with MeccaBingo.com, Virtue Fusion and Playtech have successfully brought another branded game to the masses.

If you are thinking that Mecca Bingo sounds familiar, that’s because it probably is. Owned by the Rank Group, which is one of the leading betting companies in all of Europe (operating Grosvenor Casinos and Blue Square), Mecca Bingo has some serious backing, and hence, it’s ability to team up with Playtech for the Blockbuster bingo game.

Rank Interactive Head of Gaming, Angus Nisbet recognized the impact of such a deal, stating, “Branded online bingo games are among the most popular on MeccaBingo.com, and I am sure that Blockbusters will be another success. Playtech’s Virtue Fusion Alderney has created a fantastic product and I am positive it will strike a chord with fans of the show and be well-liked by new players too.”

The Blockbusters deal shortly follows a partnership between Rank and Virtue Fusion, in which Virtue Fusion created the “Britain’s Got Talent” bingo game, which can now be seen on the homepage of Mecca Bingo – Official Bingo Partner of Britain’s Got Talent.

Boylesports Joins Playtech’s Virtue Fusion Online Bingo Network

Wednesday, March 17th, 2010

As online bingo grows more popular with the online casino gaming sector, more big name online casinos are implementing bingo games in addition to their normal fare of table games, slot and video poker machines, and in some cases, a stand alone poker room. Now – yet another testament to the growing rise in popularity of online bingo – sports books and traditional sports betting sites are integrating bingo rooms for their members to get their bingo on.

One such sports betting site is the Ireland based, Boylesports, which recently inked a deal with Playtech Software to provide online bingo solutions courtesy of the Virtue Fusion platform – quite possibly the largest and most active European facing bingo networks in operation today. As their name implies, Boylesports main focus is on sports betting. However, in recent years, they have since expanded to every form of online wagering imaginable, including poker, skill games, arcade style games, lotteries and online casino wagering.

The deal marks an ongoing relationship between Boylesports and Playtech that began when Boylesports joined Playtech’s thriving iPoker network, which at the time of publication had nearly 19,000 players online. Obviously, Boylesports has been very pleased with Playtech’s services to date, and the decision to offer an online bingo package via Virtue Fusion is certain to bear fruit as well.

Virtue Fusion was actually acquired by Playtech last month, and is considered one of the world’s leading developers and licensors of the online bingo products. Generating over 100 Million Euros in stakes per month and with peak traffic of 7,000 players, it’s no surprise Virtue Fusion’s clients include big names like Mecca, William Hill, Ladbrokes, Virgin, Paddy Power, Bet365, Sky and Crown Bingo in addition to Boylesports.