Changes at Playtech

Israeli based Playtech, top online casino provider announces changes as profits fall to levels pre UIGEA. Finance Director Shuki Barak, steps down citing personal reasons and Chairman Roger Withers states that a replacement would be the position soon, with their sites set on hiring an Israeli with public company experience.

The popular Playtech software provider is known for it's casino games, video poker, slots, plus full array of casino games and they also operate some of the worlds largest poker networks. Reports state that revenues from these games were $32 million with $10.5 million of that from poker.

Optimism abounds for the second half on 2007 though, Mor Weizer, Chief Executive for Playtech. is quoted as saying, "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." He went on to state that new games and a player to player network that will be launched in China through the Foundation Group, a partially owned government venture. China has a huge player base, 75 million online casino players, who despite laws prohibiting online gambling, there are certain online games that can be played. China offers 20,000 government run and regulated cyber cafes that sponsor tournament type casino games with cash prizes.