Playtech shares go down
In a tough economic context, Playtech, the leading developer of online casino has not been spared the financial storm that shook all economic fields. The online gambling environment is also suffering from the slump and this is obvious in the stock market prices. Thus, Teddy Sagi group saw its shares falter. The software designer annual stock profit will be lower than estimated. Playtech shares have fallen by 25% of its value.
This disturbing findings are partly explained by the unfavorable environment for gaming, either live or online. In addition, the stock price collapse comes from the Playtech joint venture with the bookmaker William Hill Online. Despite the latest figures, Playtech has seen its shares price growing during the first half of 2009. However, the forecast for the end of the year are not so optimistic. Analysts say the results should be between 49 and 52 million euros instead of 55 million euros expected.
These gloomy financial expectations are unprecedented for Playetch. The company is a leader on its market and develops software for online casinos, poker rooms and sporting bet sites. It provides the software of online casinos and poker sites as that of Euro Partners Group – Casino Tropez, Casino Bellini, Vegas Red, Titan Poker, Affiliates United, with Prestige Casino and 32 Vegas, Party Gaming, Las Vegas Casino, Swiss Casino, Casino MagicBox, Poker770.