Playtech PLC develop software for online gaming. They have 3000 employees in 12 countries. Majority of their business, however, is in Europe with most of the remainder in Asia. They own Bet365 and mobile poker sites. Moved to Isle of Man from British Virgin Islands in 2012. New Chairman appointed in October last year. Casino is half of total sales. They recently sold William Hill online for £424 million, providing over £300 million on original investment. Playtech have signed with Ladbrokes to provide a full product suite and Paddy Power put its live casino with Playtech. Sports betting is Playtech’s key focus for 2014 and beyond.
The share price has been sharply up and down recently. Their recent end of year financial report remains steady with the share price possibly effected by dividend payments, good final report and the sale of William Hill online.
I have a buy signal, albeit early and needs time to move. However, if you’re prepared to risk some down movement then over the next few trading days this could be a good time to buy more Playtech.