Playtech Estonia’s 2017 Revenue shoots up 19% to €34.7 million

Staff Writer Industry News, Playtech 1,037

Leading iGaming developer Playtech has as a company grown considerably in the past 18 months.

So far there has a been a report on its revenue gained in the 12 months preceding January 2018, which surged 14% compared to the year before. Now Playtech Estonia OÜ has issued an official announcement confirming the growth of 19% compared to the same period in 2017 and the profit has now reached an incredible €34.7 million!

You Can’t Have It All

The company headquartered in Tartu, Estonia has indeed declared that its net profit had shrunk by 51.7% to €493,900, but the numbers are negligible compared to the revenue that had gone up by 19.3% on a year to year basis to €34.7 million in 2017.

Proving that it is all due to great strategy and well thought through plans, the firm wrapped up the year of 2017 with such a profit thanks to the continuation of partnerships with existing partners and penning new deals and agreements done by the parent company.

Playtech Estonia OÜ is a part of Playtech Software Ltd. And its core business activities include programming and computer graphics.

The Plan Is to Continue to Grow

All of the European company’s output is exported, and in 2017 all of the profit from system analysis programming and custom software development was gained outside the EU.

The management board of Playtech Estonia OÜ has also said in the annual report that the firm’s intention for 2018 is to carry on business and expand to new markets.

While the average number of staff has declined by eight to 540 in 2017, wage costs have increased 8.8% to €16.6 million. To compare the digits with 2016, the firm then employed 248 people, with wage costs amounting to €15.3 million. As a result, retained revenue from previous periods surged to €9.5 million.

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