Playtech Financials Division Posts Stellar Growth in Q3
- Market volatility and solid client growth numbers have underpinned Playtech’s venture into financial trading this year
Playtech (LON:PTEC) has just issued a trading update on its performance in the third quarter of fiscal 2015. Total revenues have increased by 47 percent when compared to last year and by 13 percent when compared to the second quarter of this year to €170.9 million.
Looking at the financials division which Playtech has recently acquired by purchasing the operator of markets.com, TradeFX back in the beginning of April this year the results look solid. The gaming company has paid an initial cash payment of €208 million with up to an additional €250 million to be paid by December 2017, depending on EBITDA.
The financial trading division posted revenues totaling €27.5 million, which is higher by 158 percent when compared to the second quarter, but the results which Playtech shared are only for two months, since May 2015.
Looking at year-on-year comparisons the pro-forma revenue growth for the financials division was 36 per cent when compared to the third quarter of last year. The rise was largely driven by market Volatility Volatility In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Traders In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Traders Read this Term and customer Acquisition Acquisition Acquisition means acquiring or taking possession or the securing of property, services, or abilities. To put it simply, it is the act or process of acquiring or gaining. You can acquire a work of art, you can acquire an ability such as speaking another language, you can acquire a business or shares in a company and you can acquire an accountant's service. For example, you can acquire a new car. In a broad sense, Acquisition can mean the act of taking ownership or possession of something. There Acquisition means acquiring or taking possession or the securing of property, services, or abilities. To put it simply, it is the act or process of acquiring or gaining. You can acquire a work of art, you can acquire an ability such as speaking another language, you can acquire a business or shares in a company and you can acquire an accountant's service. For example, you can acquire a new car. In a broad sense, Acquisition can mean the act of taking ownership or possession of something. There Read this Term. Active CFD customers totaled 26,400 which is higher by a fifth when compared to Q3 2014. First time depositors have also increased to 9,700, which is up by 19 percent.
The company continues to expect an approval from the Financial Conduct Authority for the acquisition of Plus500 by the end of November and has formally challenged the decision of the Central Bank of Ireland to suspend the the acquisition of Ava Trade.
Commenting on the announcement, the Chief Executive Officer of Playtech, Mor Weizer, said, "Our Financials division had a strong quarter driven by customer acquisition, with a focus on our direct marketing channels, and we hope to complement our growth with the completion of the acquisitions of Plus500 and Ava Trade."
"Three quarters of our growth in Q3 came from regulated markets which now account for over half of all group revenues," he also highlighted.
Playtech (LON:PTEC) has just issued a trading update on its performance in the third quarter of fiscal 2015. Total revenues have increased by 47 percent when compared to last year and by 13 percent when compared to the second quarter of this year to €170.9 million.
Looking at the financials division which Playtech has recently acquired by purchasing the operator of markets.com, TradeFX back in the beginning of April this year the results look solid. The gaming company has paid an initial cash payment of €208 million with up to an additional €250 million to be paid by December 2017, depending on EBITDA.
The financial trading division posted revenues totaling €27.5 million, which is higher by 158 percent when compared to the second quarter, but the results which Playtech shared are only for two months, since May 2015.
Looking at year-on-year comparisons the pro-forma revenue growth for the financials division was 36 per cent when compared to the third quarter of last year. The rise was largely driven by market Volatility Volatility In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Traders In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Traders Read this Term and customer Acquisition Acquisition Acquisition means acquiring or taking possession or the securing of property, services, or abilities. To put it simply, it is the act or process of acquiring or gaining. You can acquire a work of art, you can acquire an ability such as speaking another language, you can acquire a business or shares in a company and you can acquire an accountant's service. For example, you can acquire a new car. In a broad sense, Acquisition can mean the act of taking ownership or possession of something. There Acquisition means acquiring or taking possession or the securing of property, services, or abilities. To put it simply, it is the act or process of acquiring or gaining. You can acquire a work of art, you can acquire an ability such as speaking another language, you can acquire a business or shares in a company and you can acquire an accountant's service. For example, you can acquire a new car. In a broad sense, Acquisition can mean the act of taking ownership or possession of something. There Read this Term. Active CFD customers totaled 26,400 which is higher by a fifth when compared to Q3 2014. First time depositors have also increased to 9,700, which is up by 19 percent.
The company continues to expect an approval from the Financial Conduct Authority for the acquisition of Plus500 by the end of November and has formally challenged the decision of the Central Bank of Ireland to suspend the the acquisition of Ava Trade.
Commenting on the announcement, the Chief Executive Officer of Playtech, Mor Weizer, said, "Our Financials division had a strong quarter driven by customer acquisition, with a focus on our direct marketing channels, and we hope to complement our growth with the completion of the acquisitions of Plus500 and Ava Trade."
"Three quarters of our growth in Q3 came from regulated markets which now account for over half of all group revenues," he also highlighted.