NEWS
SOURCE: Reuters
(London, England) — Online gambling software firm Playtech (PTEC.L: Quote, Profile , Research) said its finance director was to leave as it posted first-half revenues near levels seen before gaming firms were rocked by an effective U.S. ban last year.
Playtech, which provides gaming Web sites with games such as poker, blackjack and roulette, said revenues from casino games was $32.6 million in the six months to end June with revenues of $10.5 million from poker.
The Israeli-run firm said finance director Shuki Barak had asked to leave for personal reasons.
Non-executive chairman Roger Withers told Reuters the new man would be an externally appointed Israeli with public company experience and would be announced, "very soon".
Playtech, whose software runs the world's largest online poker network outside those of the big sites like Full Tilt, PokerStars and PartyPoker (PRTY.L: Quote, Profile , Research), said it had a healthy pipeline of new business lined up in the second half of the year.
"We see internal growth of our existing licensees and we are currently piloting with a potential Asian licensee for Asian player to player games which is a huge opportunity for us," Chief Executive Mor Weizer told Reuters.
He added European licensees were adding new games such as bingo and it was close to launching a new player-to-player network in China through Foundation Group, a part-Chinese government-owned firm in which Playtech has built up a stake.
Online gambling firms are keen to gain access to China's 75 million Internet players.
Although online gambling is outlawed in China, cash-prize poker-style online tournaments can be run in the country's 20,000 government regulated Internet cafes. Foundation has permission to run tournaments.
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