Playtech Hits All-Time High in an Uncertain Market

Shares in online gambling software company Playtech Limited reached a new all-time high this week on the LSE AIM this week, despite widespread uncertainty.

Playtech powers some of the world's largest online casinos and poker rooms. The company's share price performance is even more remarkable when one considers the widespread turbulence underway in global financial markets.

As competitors like PartyGaming (LSE: PRTY - trading just over 19p) continue to struggle post-UIGEA, Playtech's performance is a beacon of light for the online gaming industry.

Shares in Playtech (LSE: PTEC) traded as high as 432p this week. Analysts believe the increase in demand for Playtech shares can be attributed to further strong demand for Playtech casino and poker games as well as favorable anticipation of future Playtech investment strategies.

In a further blow to rival PartyGaming, iPokerNetwork (Playtech's online poker platform) recently overtook PartyPoker to gain the number 3 spot (trailing PokerStars and Full Tilt Poker). iPokerNetwork is the largest online poker network which is not active in the US market.

Shares in Playtech closed at 426.75p overnight.

Editors Note: Play at a Playtech-powered online casino and get a 320% to $320 first deposit bonus - 32 Vegas Casino!

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