Playtech Reports Positive Contribution of TradeTech Alpha to Earnings

Playtech has issued a trading update on the third quarter results of the company.

Gaming and financial technology giant Playtech (LON:PTEC) has posted its latest set of results. The company has outlined in a trading update that the performance of the firm’s financial division is in line with expectations.

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According to the announcement, TradeTech Alpha is already making a positive contribution to the company’s numbers. The news comes less than a month after Playtech (LON:PTEC) announced that it completed the acquisition of assets of ACM on October 1st.

Underlying Key Performance Indicators of the financials division continue growing. The last two months have seen a material increase in trading activity across major currency pairs with the Fed and the European Central Bank both stirring volatility.

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Gaming Division

The daily average revenues of Playtech’s (LON:PTEC) gaming division, increased. The company’s Sun Bingo represented a challenge as the company re-launched the new Sun Bingo site. Market conditions in certain parts of Asia were highlighted by the company as changing.

The slowdown in the region is expected to be temporary as Playtech (LON:PTEC) focuses on continuing to increase its exposure in key regulated markets.

The company’s non-Asian B2B business is performing in line with expectations with organic growth and acquisitions made in 2016 and 2017 helping the figures. Due to the slowdown in Asia however, Playtech expects that its full year results will be about 5 percent below the bottom end of market expectations.

Playtech highlights that it is in active discussions to acquire a range of gaming businesses as the M&A pipeline remains very strong.

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