Playtech, the publicly-quoted gaming company based in Israel, today announced its revenues rose 97 percent in the first quarter of 2008 to $39 million from the same period last year.
iPoker, the poker network operated by the company, was a significant driver of growth, expanding by 161 percent in the same period to $11 million. The company said the iPoker network became the largest non-U.S. poker liquidity pool in the world during the first quarter of 2008.
“The increased liquidity has enabled iPoker to offer a record total of tournament prizes during March of over $15 million, which included a single guaranteed tournament prize of over $2 million,” the company said in its key performance indicator statement. “The iPoker network will host the second European Championship of Online Poker on the May 23, which will offer a total of $3.5 million in guaranteed prizes and involve 10 consecutive poker tournaments.
“In addition, development of the Flash Poker product has been completed and is under testing. Full release of the product to all poker licensees is expected to occur during Q3.”
So far in 2008, the Playtech Group has added nine new licensees in 2008, including Betsson, one of the largest publicly traded online gambling operators to the European market, and Vista Global Limited, the group behind the celebrity-endorsed Hollywood Poker brand.
