Due to "exceptional joint venture and near term acquisition opportunities currently under discussion in certain key markets," Playtech has deferred a decision over its interim dividend.
Its interim results for the six months ending June 30, stated that the board will defer a decision until the final results for 2011, "in order to retain maximum flexibility." Further stating that "significant joint venture opportunities exist to create long term shareholder value in other regulated markets."
In its results for the six months ending June 30, Playtech reported an increase of two per cent for net profit to €37.9m from €37.0m. When excluding the €7m impact of its withdrawal from the French offshore market, revenues were up 18 per cent. Total revenues had increased five per cent on an absolute basis to €76.3m from €72.9m.
Roger Withers, non-executive chairman, said: "Despite the complexity and uncertainty of moves towards regulation in Europe and the US, Playtech has positioned itself, both independently and through its joint ventures, to benefit from the continued growth of the online gaming market. As more jurisdictions move towards regulation, Playtech is able to offer new and existing operators a market leading suite of products and services, helping them to navigate the complexities of changing regulatory environments."
Playtech announced an agreement to supply Gala Coral in July.
