Playtech starts Q3 strongly

Software firm Playtech, which operates the iPoker network, said the launch of cash games in Italy and the closure of Full Tilt had given it a strong start to Q3.

The firm noted in its half-yearly results that revenues for the first 54 days of Q3 were up 23% compared to the previous year.

Playtech noted the rise in revenues was 'materially influenced by both the introduction of casino games and poker cash table games in Italy, and the transition of players to our poker licensees due to the suspension of the second largest poker operator.'

The firm said tournament volumes were 'significantly higher' and the network had seen a 'material increase in activity'.

'There has been considerable change in player activity and deposits following the subsequent suspension of the license of the second largest poker operator, as players sought to move their accounts to other operators,' the firm said in a statement.

'The clearest beneficiaries of this move have been leading operators with notable brands who have enjoyed considerable increases in new player deposits.'

The positive news comes on the back of a dismal first half for poker at Playtech, where revenues fell 33% to €10.7 million (a 25% decline excluding the French market).