A 20% drop in poker revenues marred a strong year for online gambling software firm Playtech, with gross income up 41% to €243.6 million year on year.

As further evideence of the challenging poker market, the world's largest poker network saw poker revenues fall 20% to €21.7 million for the year ending December 2011.

Fourth quarter poker revenue was down 6% year on year at €5.5 million and down 2% on the previous quarter.

This was once again in stark contrast to casino and bingo revenues, which rose 13% and 9% respectively in the quarter.

Playtech CEO Mor Weizer said the results overall presented a 'solid platform' for the firm going forward as it pushes ahead in regulated markets.

'I believe Playtech is well positioned to take advantage of market opportunities wherever as and when they appear,' Weizer added.

'It is clear that there is continuing momentum towards regulated gaming in Europe, with Denmark recently launched in regulated form, and both Spain and Belgium due to regulate this year.'

'The US Department of Justice's pre-Christmas guidance has provided further encouragement for those looking to achieve regulation in the US.'

Playtech's US plans also took a new turn with the announcement of the restructuring of its joint venture with US gaming technology firm Sciplay.

The Sciplay joint venture won the deal to provide poker room software to the California Online Poker Association last year.

The joint venture is now on a non-exclusive basis with both firms free to talk to other partners in the US as new states open up to online gambling.