Online gaming and spread betting company Playtech CEO Mor Weizer "insisted he welcomes new regulation on the sector" as the company announced an increase in profits, according to Bradley Gerrard of the London TELEGRAPH. The gambling industry is "facing a predicted rise in regulation around the world that could see more rules and taxes imposed on operators." But Weizer said that he "was confident his company could continue to prosper even though he foresaw a flurry of countries imposing new rules." He added that half of Playtech's sales already came from "tougher, regulated markets." Weizer said that he liked regulated markets because they "made it easier for companies to follow rules around advertising." His comments came as the company announced a 78% hike in pre-tax profits to €91.3M ($107.8M) for the first half of the year on the back of sales of €421M ($497.2M), "up a quarter on the comparable period." A "spending splurge" by the company on five acquisitions in '16 "helped the numbers although organic revenue growth -- which excludes the purchases -- still rose a healthy" 10%. Playtech announced on Wednesday that it would pay up to $150M for technology company Alpha to "help it grow the part of its financials division that serves professional traders" (TELEGRAPH, 8/24).
