Boosted by the recent sale of its Italian Snaitech operation to Flutter Entertainment for €2.3 billion (£1.98m), Playtech has reported a strong fiscal H1 and upgraded its 2025 Full Year estimate.
Although its Reported Revenue fell 10 percent, year-on-year, to €387 million (£334.6m) for the half, ending June 30, with B2B revenue declining nine percent to €347.6 million (£3oo.56m), reflecting changes to its Caliente Interactive agreement, Playtech posted Adjusted EBITDA of €91.6 million (£79.19m), in line with the boosted expectations issued in August..
The proceeds of the Snaitech sale to Flutter in April allowed the Playtech to distribute a special dividend of €1.8 billion (£1.55bn) to shareholders and left the company with net cash of €77.1 million (£66.64m) after paying down other debts.
During the half, Playtech expanded into West Virginia, now its fourth regulated iGaming state in the U.S., with overall U.S. and Canada revenue rising by an impressive 64 percent to €21.8 million (£18.84m); although Latin America revenues declined 32 percent to €87.7 million (£75.78m) because of the revised Caliente agreement — and regulatory headwinds in Colombia.
Playtech’s SaaS division, meanwhile, grew revenues 73 percent to €57.3 million (£49.51m), and Live iCasino continued to see strong demand, with additional tables launched at MGM Grand Las Vegas for play in regulated markets outside the U.S.
Pure-Play
The company said it remains on track to deliver 2025 Full Year Adjusted EBITDA ahead of expectations of between €250 million to €300 million (£216.07m-£259.29m).
“These results show the strong start Playtech is making in its transition back to its roots as a predominantly pure-play B2B business,” affirmed CEO Mor Weizer.
“I’m very pleased that we have reported earnings ahead of expectations from earlier in the year, reflecting the strong performance across our key markets.
“Caliente Interactive paid its first dividends in the second half of the year following a period of strong performance. [And] America remains a core priority given the significant opportunities in the region, [while] Brazil’s transition to a regulated market represents a key milestone in a high-potential market.
“We continued to accelerate the execution of our US strategy, with last year’s successful launches translating into strong revenue growth and significant expansion with DraftKings.
“We continue to see significant growth opportunities in the market for Playtech, and I am confident that the combination of our market-leading technology and talented people puts us in a strong position to deliver on this exciting potential.”
