One of the major online gambling software development companies, Playtech plc has reported a steadfast grows for its full year and the fourth quarter of the 2008 activities.

According to management reports, Playtech has finished 2008 with record revenues. Total revenue for 2008 is €111.5 million, representing a 70% increase on the €65.7 million in 2007.

Total revenues for the fourth quarter are €31.5 million, representing a 52% increase on the €20.8 million for the fourth quarter of 2007.

The company has completed two main landmarks that will bring Playtech into 2009 with an expanded business that will force the way through the current economic situation.

The first landmark was the successful finalization of the range of transactions with Will Hill and Playtech affiliates. At the very beginning of 2009 the company announced that all assets and businesses that Playtech purchased from its affiliates and third parties were injected into William Hill Online, and Playtech is its gambling software provider. After that William Hill successfully launched its Poker and Casino with Playtech’s software.

The second landmark was achieved in the fourth quarter, 2008 when Playtech could enter the regulated poker market of Italy in December. Current results prove that the Italian poker network is considerably revenue enhancing and above expectations of management.

Commenting on the KPI’s Mor Weizer, Playtech’s Chief Executive, said: “Again we’ve had a successful quarter both strategically and operationally as we continue growing the business and make the most opportunities presenting themselves. We’re particularly glad with how smoothly the integration of the Will Hill joint venture progressed that bodes well for the significant strategic company development. The company met expectations of management’s demanding and we’re confident that Playtech will meet its aims for the full year.”