Playtech shares drop as Malaysia blocks online wagering

[The Buzz]

Soon after the Malaysian government announced it was going to block online sportsbooks, Playtech shares dropped nearly 9% to 635.5p.


The online and mobile casino software company said it was “monitoring the position closely and, regardless of the potential impact of any changes in the Malaysian market, remains confident of meeting the latest market consensus, following the recent Q3 IMS, for 2014 and beyond.”


Read more from Blackjack Champ: http://www.blackjackchamp.com/casino...betting-sites/

[edielaw1]

Bah do they hold so big share in Malaysia and does it has so big income from them to mark such a significant drop in the shares price... I find it a bit odd one country descision to have so big impact.

[Cus81]

All I can say is.... get into NetEnt if the price drops below 200 any time soon.

[sweetbet]

I had no idea how big Playtech is in Malaysia, or in Asia for that matter.

[Roulette Zeitung]

I had no idea how big Playtech is in Malaysia, or in Asia for that matter.

Playtech’s flagship casino product was again the key driver of company growth and within the vertical, growth in the first half of the year was broad-based, with core casino up by 31%, mobile by 94% and live by 18%. Organic growth was strong augmented by new business, including Ladbrokes and continued growth in Asia. [...] Total revenue increased by 21.2% to €214.4 million (H1/13: €176.2 million), 7.8% of the increase as a result of organic growth, including strong growth in casino in Asia, mobile casino and sports. [...] Casino continued to be the key driver of growth, and contributed €116.2 million (H1/13: €90.3 million), an increase of 28.7% over the same period in the prior year, driven by Ladbrokes, Gala Coral, Paddy Power live and casino, and organic growth in Asia.

[...]

Revenue – share of geographical diversity
Europe 57%
Asia 34%
Rest of the world 9%

Source: ===> Playtech - Interim Results for the six months ended 30 June 2014

Leopold

[Gamer]

Good, I sold some Playtech shares a month ago!
If drop under 550, I will buy again!