Online gaming and financial trading systems giant Playtech PLC (LON:PTEC) is today hosting its Annual General Meeting at which its Chairman Alan Jackson will make the following statement:
I am delighted to say that Playtech is delivering a strong performance in 2017 driven by organic growth and recent strategic acquisitions.
Growth in daily average revenues in the Gaming division in the year to date remains strong with organic growth supplemented by acquisitions made in 2016 and 2017 including BGT, Quickspin, ECM and Eyecon. As previously indicated, the initial phase of our contract with the Sun Bingo has been more challenging than anticipated and we have recently taken further steps to address the issues, including significantly strengthening the management team, resulting in an improving performance.
The Financials division has performed in line with our expectations, with continued growth in the B2B business and improved B2C customer KPIs. CFH continues to perform well following the acquisition in November.
Our M&A pipeline remains strong and we continue to have active discussions with a range of businesses in the Gaming division as well as discussions for selective bolt-on acquisitions in the Financials division.
The Board has confidence in the continued success of Playtech and of the business meeting its expectations for 2017.