Playtech posts 33% rise in H1 EBITDA

LONDON (SHARECAST) - Online gaming technology developer Playtech reported a 33% increase in half year EBITDA as it increases its dividend for the period by 17%.

Playtech said it expects a stronger second half performance as is signs more licensees.

Adjusted EBITDA rose to €45.3m for the six months ended 30 June 2009 from €34m the year before. Total revenues were up by 9.8% to €56.7m.

Casino revenues up by 2.2% to €37.6m while poker revenues increased 23.8% to €17.3m.

Gross income rose to €67m from €52m after strong sales from its software licence deal with William Hill. Playtech added that it had made good progress in the integration of the bookmaker's businesses.

Playtech's core royalty business performed strongly during the half year, it added while the launch of its Italian poker network was 'highly successful'.

The interim dividend has been increased 17.1% to 8.9 cents per share.