Playtech is lining up what it called a “significant” acquisition with an affiliated company in online gambling, using some of the £112m it raised in a placing last month. The software provider to the gaming industry, whose clients include PartyGaming and Paddy Power, also announced revenues for the second quarter of $42.4m (£ 21m, €27m) up 75% on the same period last year, and 9% on the previous quarter. Playtech, one of the leading companies on Aim with a market capitalisation of £1.2bn, said that “a material proportion of future growth ... can be generated organically”, but a number of acquisitions would accelerate development. The company added that it had begun due diligence on an acquisition that provides services to some of Playtech’s licensees.

The launch in the first half of the year of Asian player-to-player games would be completed over the next few months. Though a smaller market for Playtech compared with Europe, Asia revenues increased 93% year-on-year and now make up a fifth of revenues.

Playtech also signed a four-year exclusive agreement with the digital arm of Paramount Pictures enabling its licensees to offer games featuring the film company’s Gladiator and Untouchables brands. Playtech also said its Flash poker network was ready to roll out in the next quarter and that July had begun well. Mr Weizer added that he expected five new licensees to be signed up in the next quarter, to add to the 10 signed this year.

The company has eight memoranda of understanding signed, among them deals with Italian operators that it said could lead to a position in that country. It is establishing a poker network in Italy.

Source:http://www.gamblingplanet.org/