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UPDATE 1-Playtech sees strong start to 2010
May 5, 2010 / 6:45 AM / 8 years ago

UPDATE 1-Playtech sees strong start to 2010

* Q1 gross income up 29 percent

* April daily average royalties ahead of Q1

(Adds detail)

LONDON, May 5 (Reuters) - Online gaming software firm Playtech (PTEC.L) said it had seen a strong start to 2010 with first quarter gross income up 29 percent and and daily average royalty revenues in April ahead of the previous quarter.

Playtech, the second-biggest company on London’s Alternative Investment Market, said gross income in the quarter to Mar. 31 totalled 43.4 million euros ($57.8 million) while total revenues increased by 25 percent year-on-year to 36.1 million euros.

The company said daily average royalty revenues in April are running slightly ahead of those experienced during the first quarter suggesting an encouraging start to what is normally considered to be a quieter quarter.

“We continue to see strong interest in our products and a good pipeline of prospective licensees in regulated and soon-to-be regulated markets,” it added in a statement on Wednesday.

(Reporting by Matt Scuffham; Editing by Lorraine Turner)

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