Playtech revenue doubles

PLAYTECH has stated that its first quarter revenues have doubled, with the help of a strong growth of its casino business.  It posted a 104 per cent increase in total revenues to €75.1m for the first quarter of 2012. They also said that its plans to shift its listing to London’s main market were progressing well. However, the group added that it was dropping plans to buy some social social gaming assets owned by founder and Israeli billionaire Teddy Sagi, and would instead enter software license agreements. Reuters reported that it plans for a deal with its top shareholder – Sagi which still owns 48 percent of the company – were announced in April. Playtech’s revenues grew in all areas compared to a year ago expect for its poker division. Total revenues came in at 75.1 million euros ($99.32 million), up from 36.7 million euros a year ago.