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Online Bingo Supports Continued Playtech Revenue Growth
2010-11-09 10:05:00 | Written by: Carol Dian
Playtech, a leading online gaming platform provider, recently released third quarter numbers, and their revenue derived from online bingo was up a hefty 11% versus the year-over-year period. These gains in bingo site related revenue helped defray the effects of a drop in revenue emanating from Playtech's poker operations. Sales in their important French market were down slightly, and UK-based players helped strong results in both Playtech's online bingo sites as well as their BetFair site.
Playtech-powered bingo sites include those in the Bingoland Network. Bingo Fantasy recently moved over to this network joining a long list of sites popular with many UK players including Tiki Bingo and Ruby Bingo. Within the online bingo arena, Playtech faces strong competition from other platform providers including Dragonfish and Neogames. New online bingo sites are emerging almost on a daily basis, and the proliferation of new bingo sites very well may put pressure on Bingoland Network's profit margins as they must match constantly increasing bingo bonus offers.
Due to the extreme competition in this space, sites like RedBus Bingo have recently rolled out new bingo bonuses including £5 no deposit bingo offers and initial deposit match bonuses potentially as high as 2000%. Bingo On The Box and Bingo Cafe offer £15 no deposit bingo options, and free bingo games are run at virtually every site catering to UK-based players. All of this generosity is great for online bingo players, but it might end up proving deleterious to the bottom line of operators like Playtech.Related News
- 2010-04-11 | Playtech Enters the Italian Bingo Market
- 2010-02-15 | Playtech buys Virtue Fusion
- 2009-12-11 | Playtech Joins WLA
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