I have just bought into this company as it is well below the float price and has been savagely knocked back by the US gambling fiasco. The trading statement looks promising and new contracts coming in IMO the market is undervaluing this company. It supplies the software to so many of our successful gambling companies. I'd welcome any comments.

no one interested here-shame as this company is relatively protected from the US Gambling fall out.

.

Hi MP - read your thread but had to give it the go-by as I don't "do" gambling stocks. Sorry.

PS have sent you a mail . . . .

This one isn't strictly a gambling stock it is a software company that supplies the means for all the companies in this field to operate and that includes slot machines and all the temptations you get in casinos and amusement arcades. at least that's how I read it-figures very soon should wake some interest I hope. This is below it's float price and well below the radar-that said if it continues in the doldrums I shall move on. I was told of this by a fund manager and as you know they are very often wrong!

fantastic set of maiden results out this morning and a dividend! take a look.

MP, you are lonely, aren't you?

Moneyplus

Don't know if you are still in these after the October crash but, for the record, I have bought into this yesterday at 206p as the Tribeca acquisition looks substantially earnings positive. I reckon they've bought a good $15m plus of net profits on a PER of 6 or thereabouts, plus this gives PTEC scope to gain economies of scale and dominate the European gaming software landscape. Of course, someone might also be keen to take them out for a fat premium up the line.

PTEC being based in Cyprus, the tax charge is low too.

I took profits before the crash-was very tempted to buy back in but had no spare funds. I still think this company will do very well and it has bounced back nicely. good luck Bones.

Bought back into this one today. It has pulled off some great contracts--the chinese are gambling addicts! I should have bought back when they were hit by the US fiasco but better late than never---check it out ST.

bought 20,000 on wednesday..read the results and the company's foray into China is a whole new ball game IMO. The chart never reacted to the recent market wobble and the volume is excellent. Needs a little exposure in the wider market cos i think its an unknown quantity at present

Lucky you!-all I could afford is 1000 shares to buy and hold! I did nicely on this one last time I held it so hoping for good gains again. I haven't got the nerve for spreadbets or cfds- but wish I did sometimes.

www.chartbreakouts.co.uk appear very bullish as the price very very close to all time high..i reckon once the full benefits of its asian assault and market appreciation feed through then we should see a swift re-rating. slightly tinged by its association with the gaming sector which,which of course it is part of, but its revenues are sourced quite differently.

Pull back today-the herd has moved on. I hope to keep adding on dips.

Fantastic new win...

RNS Number : 8858O
Playtech Limited
16 March 2009



Playtech Ltd

('Playtech' or 'the Company')







Playtech enters regulated Spanish market with Casino Grand Madrid agreement







Playtech (AIM: PTEC), the international designer, developer and licensor of software to the online gaming industry, today announces that it has signed a new licensing agreement to supply its market leading online casino and poker products to Casino Gran Madrid ('CGM'), one of the largest and most prestigious land based gaming operators in Europe.

Under the terms of the license agreement, Playtech will provide CGM with its casino platform and poker product, through the iPoker network, as the operator launches its online operations.




Commenting on the agreement Mor Weizer, Chief Executive Officer of Playtech, said:




'We are delighted to have secured this agreement with one of Europe's largest and most respected land based operators. We expect this to be a significantly value accretive relationship, exemplifying our strategy to increase the number of regulated markets in which we operate.'




Both parties are committed to meeting all the Spanish regulatory requirements. CGM has also been working closely with Playtech's development and customer support teams to devise a suite of products tailored to meet the unique demands of CGM's players, offering a huge variety of games specifically designed to appeal to the gaming patterns of CGM's customer base.


Mr Weizer continued:

'As a leading industry player we are pleased to add further regulated markets to our sphere of operations. Playtech's gaming platform is supported by a transparent and efficient management system which an increasing number of customers view as integral to their future business plans.'




Jorge Casanova, Director of Information Systems of Casino Gran Madrid concluded:




'Our agreement with Playtech strengthens CGM's leading position in the Spanish casino market. With our casino brand and games available online we are delighted to be leading gaming development in Spain through Playtech's innovative, secure and transparent system.'







- Ends -

The majority of Brokers have a BUY rating on it..

Playtech Ltd

FORECASTS
2008 2009

Date Rec Pre-tax () EPS (p) DPS (p) Pre-tax () EPS (p) DPS (p)

Daniel Stewart
13-03-09 BUY 71.00 29.23 14.48 117.22 46.22 22.92

Numis Securities Ltd
12-03-09 BUY 68.46 28.72 14.82 112.75 45.40 23.16

Collins Stewart
09-03-09 BUY 73.34 30.95 122.77 49.71

Evolution Securities Ltd
02-03-09 SELL 82.67 34.43 17.95 97.82 38.85 20.34

2008 2009
Pre-tax () EPS (p) DPS (p) Pre-tax () EPS (p) DPS (p)

Consensus 70.81 29.57 14.65 114.99 45.81 23.04
1 Month Change -4.16 -1.68 -0.96 -1.41 -2.20 0.60
3 Month Change 1.08 1.75 -0.60 6.23 2.14 0.42


GROWTH
2007 (A) 2008 (E) 2009 (E)

Norm. EPS -36.67% 227.43% 54.92%
DPS 40.13% 121.97% 57.27%

INVESTMENT RATIOS
2007 (A) 2008 (E) 2009 (E)

EBITDA 23.09m 67.04m 115.18m

EBIT 19.61m m m

Dividend Yield 1.76% 3.91% 6.14%

Dividend Cover 1.37x 2.02x 1.99x

PER 41.52x 12.68x 8.19x

PEG -1.13f 0.06f 0.15f

Net Asset Value PS 14.26p p p

Broker news out this morning....

Collins Stewart has buys for Playtech and Healthcare Locums, a hold and 186p target for Stagecoach and initiates coverage of Hansen with a buy and 175p target and Clipper Windpower with a buy and 122p target.

Broker snap...

17-Mar-09 Playtech PTEC Daniel Stewart Buy 400.00p 543.00p - Reiteration

543p target.

A bit of weakness this morning therefore ideal time to be buying.

Brokers seem to like it.....

Playtech Ltd

FORECASTS
2009 2010

Date Rec Pre-tax () EPS (p) DPS (p) Pre-tax () EPS (p) DPS (p)

Daniel Stewart [R]
27-03-09 BUY 117.22 46.22 22.92

Collins Stewart
19-03-09 BUY 120.64 48.78 138.93 56.28

Numis Securities Ltd
19-03-09 BUY 114.16 45.97 23.45 134.71 53.47 28.14

Evolution Securities Ltd [R]
02-03-09 SELL 97.82 38.85 20.34

2009 2010

Pre-tax () EPS (p) DPS (p) Pre-tax () EPS (p) DPS (p)

Consensus 117.40 47.37 23.45 136.82 54.88 28.14
1 Month Change 1.00 -0.65 1.01 -6.61 -2.39 0.47
3 Month Change 8.64 3.70 0.83 10.46 4.39 1.48


GROWTH
2008 (A) 2009 (E) 2010 (E
)
Norm. EPS 83.35% 186.08% 15.85%

DPS 66.06% 113.96% 20.00%

INVESTMENT RATIOS

2008 (A) 2009 (E) 2010 (E)

EBITDA m 113.79m 133.68m

EBIT m m m

Dividend Yield 2.39% 5.11% 6.13%

Dividend Cover 1.51x 2.02x 1.95x

PER 27.72x 9.69x 8.36x

PEG 0.33f 0.05f 0.53f

Net Asset Value PS p p p

A P/E of just 9.7 for thnis year.

Way too cheap and undervalued.

Business Financial Newswire
"Gaming software group Playtech says full-year trading will be below current market expectations, owing to a slower than anticipated start to William Hill Online and the economic environment.

Adjusted EBITDA in the first half of 2009 is expected to be 43m to 45m.

Playtech says it is confident of delivering strong growth for the full year to December 2009 compared to 2008. 'However, owing to the slower than anticipated start to WHO and the general challenging economic environment impacting some of our licensees, the board believes that full-year trading will be below current market expectations.'

William Hill Online 'is making encouraging progress after a slower than anticipated start to the year due to a prolonged integration period and difficult trading conditions.

'This will impact our expectations for the first year's trading. However, Playtech remains confident that the WHO transaction will prove to be transformational for the company and will make an important contribution to earnings in 2009 and beyond.'

William Hill confirmed WHO is 'making good progress during an extensive integration period and in difficult trading conditions'. It says it remains comfortable with the market consensus for the online business in 2009 "

Nice bounce after anticipated mediocre results.