Playtech on a Winning StreakPublished July 3, 2008
Setting the standards in South African gaming, super software provider set to take over the online gambling world.
In response to the online gambling legislation floating around in the South African parliament, a flurry of top online casinos are now opening their doors to Rand gambling.
From the exotic shores of Amber Coast, to the bubble gum cheeriness of Joyland casino, many of these new entrants are quality sites offering a spectacular array of online gaming options. But what else do they have in common? If we click past the grandiose casino lobbies and dig a little deeper into their software roots we can detect a recurring theme: the vast majority of these shiny new South African sites are powered by the online software giant, Playtech.
From classic games like roulette and blackjack to mind-boggling progressive jackpots, Playtech provides the winning formula for a dazzling array of online games.
And the Israeli firm is going from strength to strength. The company, listed on the London Stock Exchange, has just announced a 14.4 per cent growth in their first quarter results, equating to almost 20 million pounds in revenues.
These figures are bringing Playtech close to becoming one of the world's leading providers of online casino and poker software. Fuelling this success was Playtech's launch of its iPoker network which has started to gain pace with PartyGaming - the current market leader in online gaming.
But it hasn't all been plain sailing. The 2006 Unlawful Internet Gaming Enforcement Act passed in the US nearly knocked the wind out of Playtech's sails. The law effectively banned online gambling in the US and resulted in a drop in Playtech's share price by a catastrophic 40%.
The software giant soon bounced back though and South African gamers will be glad they did as they now have access to some of the whizziest online casinos on the net.