Playtech Q2 in line with expectations
Software company to change reporting practices following acceptance onto main market
Multiple eGaming Review B2B Award winner Playtech expects second quarter revenues to come in “slightly ahead” of the 10% year-on-year increase reported in April’s trading update.
The solutions provider, which won four awards including Bingo Supplier of the Year at this month’s awards ceremony, said in a pre-close update today it expects its second quarter figures to be “in line with expectations”.
“Management continues to be confident of achieving its financial objectives for the year,” the firm said. It also noted that it intends to alter its reporting practices in line with its move to the main market of the London Stock Exchange last July.
“Playtech will no longer be reporting Q2 and Q4 KPIs, reverting to the standard practice of reporting interim and full year results with intervening interim management statements and pre-close trading statements,” the company explained in today’s update.
Last week Playtech sold its shareholding in egaming operator Sportech earlier this month, with the software company’s chief executive, Mor Weizer, leaving the Sportech board. However Sportech CEO Ian Penrose said the commercial relationship between the parties is unaffected.
Playtech’s share price remains relatively unchanged at the time of writing, sitting at 599.5p a share.