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Date: Wednesday 03 Sep 2008

LONDON (ShareCast) - Online gaming software group Playtech revealed a massive 90% rise in half year pre-tax profit as it sold more online casino games and signed new licensing agreements.

The group said adjusted net pre-tax profit surged to $57.82m for the six months ended 30 June compared with net pre-tax profit of $30.43m a year before. Revenue rose to $81.39m from $43.97m.

The company has raised £112m through a placing to finance further acquisitions. Today it confirmed that it is looking at acquisition opportunities.

"Playtech continues to undertake due diligence in relation to an affiliate company, and so far progress has been satisfactory," the group said in a company statement.

Unerlining its confidence in future progress, the interim dividend has been nearly doubled to 12 cents from 6.1 cents the year before.

Chief Executive Mor Weizer added, "The company has potential for far more significant growth and its unique business model places it in a strong position. The board looks forward to the future with confidence."

• News Channel