Playtech bullish on 2008, accelerates Asian drive
LONDON, March 4 (Reuters) - Playtech (PTEC.L), the world's biggest online poker and casino software firm, posted a rise in full year core profit on Tuesday as it brushed off fears that had surrounded online gaming's first year without U.S. gamblers.
Playtech, which provides gambling Web Site with games ranging from poker and blackjack to roulette and mahjong, said net profit before tax was $70 million up from $68 million a year ago, when adjusted for investments in other firms, acquisitions and stock options.
The firm's chief executive Mor Weizer told Reuters margins were expected to rise to around 70 percent over 2008 from around 67 percent, while the firm would release three new Asian games by the end of the first quarter and revamp its poker software in time for the start of its second half.
He added the firm was "highly confident" about hitting analysts' forecasts for 2008.
On average analysts expect the firm to make 91 million pounds of adjusted profit 2008 based on a Reuters Estimates poll of 3 investment banks.
(reporting by Marc Jones)
