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Playtech posts dip in revenue
Shares in Aim-listed gambling software developer Playtech dipped sharply yesterday after a first quarter trading update revealed the firm’s underlying growth fell by one per cent on a like for like basis compared to the fourth quarter of 2008. Broker Evolution Securities reiterated its “sell” rating, saying it was “something of a surprise” that underlying revenue had fallen despite the firm signing 15 new licensees in 2008. Playtech expects the impact to be temporary and compensated in full once William Hill’s online casino businesses, which it acquired last year, are fully integrated.