August 24, 2017 / 6:27 AM / 2 years ago

Playtech revenue rises on strong gaming division performance

(Reuters) - Gambling technology company Playtech (PTEC.L) reported half-year revenue up nearly 25 percent on a strong performance by its flagship Casino offering and benefits from recent acquisitions.

Playtech, which provides software for sports betting and online casino and poker games, said that gaming revenue rose 22.8 percent to 376.5 million euros (347.43 million pounds).

Total revenue for the six months to June 30 was 421.6 million euros, up from 337.7 million euros in the same period last year.

The company, which counts the likes of Paddy Power Betfair PPB.I, William Hill (WMH.L) and Betfred among its customers, has been active in the wave of consolidation in the gambling sector, and on Wednesday announced that it will buy technology, intellectual property and some customer assets from ACM Group.

Playtech, the products of which include casino, poker, bingo, sports betting and social gaming, said average daily revenue at its gaming division in the first 53 days of the third quarter was up 1 percent year on year.

Its interim dividend was increased by 10 percent to 12.1 euro cents.

Reporting by Rahul B in Bengaluru; Editing by David Goodman

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