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.

THE WEEK AHEAD FR 9/03/2012 (from ample)

Thursday 15/03/2012

PLAYTECH

The same day Playtech (PTEC)updates investors with its 2011 full -year trading statement.

Concensus estimates for EBITDAto come in about 121.5millio Euros (£101million)
Aditionally, Collins Stewart is expecting the companyto end the year with 139 million euros of net cash.

Shares in the companyare trading on a 2012 P/E ratio ofabout 9 times, which Collins Stewart analyst Soimon Davies, believesis "toocheap".

" The past year has been transformational, with the PTTS, Mobenga, Geneity and Ash acquisitionsand £100 million fund raising. PTEC cemented its positionas UK B2B partner of choice, with the Gala Coral and paddy power contracts, while Videobethas rolled outa significantupgrade of the ladbrokesmachine estmate," Davies stated, reminding investors thatit also signed partners in the US(COPA)and mexico (Gruopo Caliente).

HE HAS A BUY RECOMMENDATION ON THE STOCK.

Results this morning easily beat forecasts...

http://www.investegate.co.uk/Article.aspx?id=201203150700193857Z

Playtech PTEC

Concensus estimates for EBITDA to come in about 121.5millio Euros

Actual ......

Adjusted EBITDA** increased by 22% to €125.5 million (2010: €103.1 million)

BEATS concensus nicely.

Financial highlights



§ Gross income* up 41% to €243.6 million (2010: €173.1 million)



§ Total revenues up by 46% to €207.5 million (2010: €142.3 million)



§ Adjusted EBITDA** increased by 22% to €125.5 million (2010: €103.1 million)



§ Adjusted net profit** increased by 21% to €112.8 million (2010: €93.2 million)



§ Net cash balances*** at year end of €137.3 million (2010: €68.5 million) following a £100 million fundraising in December, providing new capital to support joint ventures in newly regulated markets, and funding of targeted acquisitions



§ Adjusted basic EPS** of 46.2 € cents per share (2010: 38.5 € cents per share)



§ Recommended combined interim and final dividend for 2011 of 16.5 € cents per share



* Gross income is defined as total revenue plus the Group's income from associate



** Adjusted EBITDA, adjusted EPS and adjusted net profit are calculated after adding back certain non-cash charges, cash expenses relating to professional costs on acquisitions, legal costs relating to litigation with William Hill and prior year taxes (see reconciliation in Financial and Operating Overview below)



*** Net cash balances defined as cash and cash equivalents less bank borrowings

PTEC Playtech

The icing on the cake



Current trading



Playtech has experienced a strong start to the year enjoying healthy momentum across its operations including those it has acquired recently. The Directors are especially encouraged by the performance of PTTS, where trading is significantly above management expectations.



Like-for-like growth in daily average revenues for the first nine weeks of 2012 are up over 23% compared to the same period in 2011. The daily average revenues versus Q4 2011 on the same basis are over 3% ahead

Gaming software group Playtech advances 1.3 percent after the company, which recently shifted its listing to London's main market from the junior AIM market, unveils an 82 percent rise in second-quarter gross income to 88.1 million euros.

"Playtech has made good progress in H1 from both a revenue and strategic perspective," Peel Hunt says in a note.

"The move to a Premium Listing has yet to deliver a rerating but if the company continues to deliver financially and the connected party transactions cease then the room for multiple expansion is significant."

Q2 2012 Key Performance Indicators and trading update





Strong performance in second quarter



Completed move to Premium Listing on Main Market





Playtech, (LSE: PTEC) the international designer, developer and licensor of software and services for the online, mobile and land-based gaming industry, today announces its Key Performance Indicators and trading update for the three months ended 30 June 2012.



Financial highlights



For the three months ending 30 June 2012:

§ Strong financial performance

§ Gross income up 82% to €88.1 million, (Q2/11: €48.4 million) and flat on Q1/12

§ Total revenues up 99% to €78.6 million, (Q2/11: €39.6 million) and up 5% on Q1/12



Quarter-on-quarter revenue:

§ Casino revenues up 36% to €37.1 million, (Q2/11: €27.3 million) and up 8% on Q1/12

§ Poker revenues down 12% to €4.4 million, (Q2/11: €5.0 million) and down 18% on Q1/12

§ Bingo revenues up 21% to €4.4 million, (Q2/11: €3.6 million) and up 1% on Q1/12

§ Videobet revenues up 36% to €2.8 million, (Q2/11: €2.0 million) and up 15% on Q1/12

§ Services revenues up 4% to €26.8 million on Q1/12*

§ Share of profit in William Hill Online up 7% to €9.5 million, (Q2/11: €8.8 million) and down 29% from Q1/12 reflecting strong performance in Q1/12



*PTTS purchase completed on 1 July 2011



http://www.moneyam.com/action/news/showArticle?id=4422723

http://www.moneyam.com/action/news/showArticle?id=4435116

Financial highlights



§ Gross income* up by 86% to €176.5 million (H1/2011: €95.0 million)



§ Total revenues up by 101% to €153.8 million (H1/2011: €76.3 million)



§ Adjusted EBITDA** up 64% to €91.2 million (H1/2011: €55.8 million)



§ Adjusted net profit** up 67% to €84.5 million (H1/2011: €50.7 million), with reported post tax profits of €26.2 million (H1/2011: €37.9 million)



§ Adjusted EPS** for the six month period rose 40% to 29.2 € cents (H1/2011: 20.9 € cents)



§ Interim dividend of 7.8 € cents per share (H1/2011: nil)



§ Continued high cash conversion of 88% from Adjusted EBITDA (H1/2011: 81%).



§ Cash balances at 30 June 2012 of €139.3 million (H1/2011: €64.3 million)





* Gross income is defined as total revenue plus the Group's income from associate

Slow off the mark this morning , investors digested the news with their cuppa .

Gone long nice breakout after trading range for a long period.

PTEC PLAYTECH

Brokers with a BUY reco on PTEC.....

Forward P/E of just over 10 for a
tech company and one that yields
3.86%....way way too cheap.

Its a bargain at this price imo.

Date Company Name Broker Rec. Price Old target price New target price Notes

21 Dec 12 Playtech Ltd Daniel Stewart Buy 454.00 495.00 - Reiterates
08 Nov 12 Playtech Ltd Deutsche Bank Buy 454.00 470.00 470.00 Reiterates
07 Nov 12 Playtech Ltd Canaccord Genuity Buy 454.00 480.00 505.00 Reiterates
07 Nov 12 Playtech Ltd Daniel Stewart Buy 454.00 480.00 495.00 Reiterates
07 Nov 12 Playtech Ltd Peel Hunt Buy 454.00 438.00 464.00 Reiterates

N@P Building Society

INVESTMENT RATIOS
2011 (A) 2012 (E) 2013 (E)

EBITDA £96.59m £141.10m £150.34m
EBIT £72.26m £58.63m £65.12m
Dividend Yield 1.81% 3.71% 3.86%
Dividend Cover 3.25x 2.52x 2.58x
PER 17.02x 10.70x 10.03x
PEG 0.88f 0.18f 1.52f
Net Asset Value PS 31.40p 143.77p 160.35p

Hemscott Premium.

PTEC PLAYTEC

MASSIVE Broker Upgrade.......

31 Jan Playtech Ltd PTEC Panmure Gordon Buy 0.00 457.60 419.00 605.00 Upgrades

TARGET SP 605P.

Mentioned in The Independent

http://www.independent.co.uk/news/business/sharewatch/market-report-lamprell-looks-like-a-longterm-bet-8476233.html

"Playtech, the online-betting game developer, got a boost from Simon French at Panmure Gordon. The leisure analyst thinks it is worth taking a punt on the shares and gave it a buy rating. He upped his price target to 605p because it offers "faster growth, higher margin and lower risk exposure than its peers". Its shares rose 5.3p to 462.9p."

PTEC Playtec

That broker note yesterday in more detail..

Playtech upgraded by Panmure Gordon
31st January 2013, 14:22

Panmure Gordon has upgraded its recommendation on the online gaming software supplier Playtech [LON:PTEC] to ‘buy’ from ‘hold’ given its favourable and improving performance when compared to its peers.

The City broker has increased it price target to 605 pence (from 419 pence) which implies a potential upside of around 30% to the current share price.

Analyst Simon French justified the upgrade in a note issued this morning by saying: “Playtech offers faster growth, higher margin and lower risk exposure to online gaming than its peers.

“If it sells its shareholding in WHO [William Hill Online] we expect it to return part of the proceeds to shareholders but invest the majority in online gaming assets.”

At 2:12pm: Playtech share price was up 6.15 pence at 463.75 pence

The starting pistol has been fired on a new US goldrush This time in online casino gaming, especially poker. Until now it has been illegal, and Americans have watched foreign markets storming ahead with it over the past 5 years. Within the past 24 hours Nevada voted yes, beating New Jersey to the punch. Delaware already said yes. Other US states are now drawing up bills to vote in the coming days, weeks and months. It is a expected to create a multi-billion dollar industry in which states can rake in money by issuing licences and collecting an ongoing percentage from players and providers. Stockmarket companies providing the platforms and other related software have seen their share prices rise strongly on the news and in anticipation of floodgates being opened. 888 is one of the UK-listed companies likely to benefit. So is Playtech (PTEC)

Nevarda article

New multi year high today.

11 Mar Playtech Ltd PTEC Panmure Gordon Buy 557.50 551.50 627.00 627.00 Reiterates

UPDATE 1-Ladbrokes signs Playtech deal to boost online presence<888.L>11 Mar 2013 - 08:41

LONDON, March 11 (Reuters) - Ladbrokes , Britain's second-largest bookmaker, is betting on a tie-up with gaming software developer Playtech to rack up earnings from growing demand for online gambling. Playtech has finalised an agreement to advise and assist Ladbrokes with its digital services for an initial period of five years, the companies announced on Monday. Ladbrokes, a familiar sight on Britain's high streets with 2,200 retail outlets, has struggled to keep up with the online offering of UK market leader William Hill . Earlier this month, William Hill took full control of the internet venture it previously ran with Playtech, buying out Playtech's stake for 424 million pounds, as it looks to expand online. [ID:nL6N0BS7AW] The online gambling sector is seeing a wave of consolidation and deals, amid signs that the U.S. is readying to legalise it. Online gambling firm 888 <888.L> announced two U.S. agreements on Monday. [ID:nL6N0C31UZ] The first new feature Ladbrokes' website customers will see is a 'Vegas' tab, giving access to a virtual casino. The company said the deal with Playtech should help spur growth. "I'm very confident that over the next five years this is going to allow us to accelerate our EBITDA (earnings before interest, tax, depreciation and amortisation)," chief executive Richard Glynn told Reuters. "What this will allow us to do is offer a comparable digital service." Ladbrokes declined to specify how much profit it expects the deal to generate, but Playtech will receive an early instalment of its success fee - described by Glynn as a "no win no fee" arrangement - if base EBITDA uplifts of 35 million pounds ($52 million), 70 million pounds and 100 million pounds are achieved before 2017. The deal boosted shares in both companies, among the top FTSE-350 risers on Monday. Ladbrokes shares were up 5.7 percent to 239 pence, having risen almost 50 percent in the past six months, while Playtech shares climbed 3.4 percent to 571 pence. ($1 = 0.6699 British pounds) (Reporting By Isla Binnie, Editing by Rosalba O'Brien) ((isla.binnie@thomsonreuters.com)(+44 20 7542 1497)(Reuters Messaging: isla.binnie.thomsonreuters.com@reuters.net)) Keywords: LADBROKES PLAYTECH/

11 Mar Playtech Ltd PTEC Deutsche Bank Buy 557.50 551.50 550.00 650.00 Reiterates