Playtech PLC develops 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. Playtech PLC moved to Isle of Man from the British Virgin Islands in 2012. New Chairman appointed in October last year. The casino is half of the total sales. They recently sold William Hill online for £424 million, providing over £300 million on the original investment. Playtech has signed with Ladbrokes to offer 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 affected 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 an excellent time to buy more Playtech.