€188m dividend for Playtech shareholders

Playtech shareholders are set to receive €188m in dividends in recognition of last year’s “exceptional growth,” the group announced at its annual general meeting this week.

The group said that the payment represents “a significant achievement for Playtech,” after a good year for the Isle-of-man based firm.

A great year for Playtech

At the end of the financial year, Playtech was valued at €527.4m, however most of that value was raised by the sale of its stake in William Hill Online.

According to the Playtech board, it had “recommended a final dividend payment of €15.4 cents a share, which gives a total ordinary dividend of €23.2 cents per share for the year, on top of the special dividend of 34.1 pence per share paid back in March. In aggregate, approximately €188 million will be paid as dividends for the 2013 financial year.”

“Over 2013, total revenue increased 17% to €367.2m. Stripping out the share of profit from William Hill Online, Adjusted EBITDA grew 17% to €159.4m”, announced Playtech chairman Alan Jackson.

“I am pleased that Playtech achieved another year of exceptional growth. Over 2013, total revenue increased 17% to €367.2 million. Stripping out the share of profit from William Hill Online, adjusted EBITDA grew 17% to €159.4 million.”, he added.

Success will lead to more collaborations

Playtech has noted that its success will enable it to continue seeking out new acquisitions in addition to potential joint ventures and partnerships.

Only recently, Playtech, in an attempt to breathe life into Ladbrokes’ online fortunes, migrated the firm’s entire digital catalogue onto Playtech’s own systems.