There is no contending the fact that gaming software developer, Playtech, is not just about online casino gambling. No longer facing the U.S. online gambling market, Playtech has done a phenomenal job at diversifying its operations in both a demographical and operational sense. Second quarter financial statements, which were recently divulged this week, have signified Playtech's continued successes, as well as confirmed the pioneering online casino software developer as being the world's leading independent online poker network.

Chiefly attributed to Playtech's acquisition of Tribeca Tables poker network, poker revenue for the second quarter, which was the first full quarter of having received revenue generated from the Tribeca network, increased by 50% from the first quarter of 2007. Compared to the same time last year, Playtech's poker revenue increased by a staggering 288%. According to Playtech's new CEO, Mor Weizer, who so far is doing a phenomenal job filling the shoes of Playtech's former CEO success story, Avigur Zmora, the successful migration of the Tribeca Tables poker network has put Playtech on the map for all other independent poker networks to follow.

Other notable second quarter financial details showed Playtech increasing online casino revenues by $2.2 million to end out the second quarter at $17.4 million. Excluding U.S. revenues, this was an impressive increase of 46% from the second quarter of 2006. Things could have been much better if the U.S. had not initiated an online gambling ban. If taking U.S. revenues into account, Playtech's overall revenues for the second quarter would have been down by 5% for the same quarter last year. Considering how much Playtech and most other online casino software developers depended on the U.S. market, things could have been much worse. Just take a look at Neteller. Need I say more.

Not taking U.S. revenues into account, Playtech saw an increase in earnings by 80% for the first half of 2007, which amounted to $32.6 million generated from online casino licensees and $10.5 million generated from poker sites. Playtech's convergence on the European market has been instrumental in mitigating the hit given by the U.S. market. With the acquisition of Tribeca, Playtech was able to attract 19% more poker activity from European players. Forecasts for the third quarter are expecting continued growth in all areas, including the Asian market, which took a small loss in the second quarter due to restructuring of a major Asian licensee.