Playtech plc
('Playtech' or the 'Company')
Trading update
FY 2024 Adjusted EBITDA to be slightly above expectations
Playtech plc (LSE: PTEC), the leading platform, content and services provider in the online gambling industry, is pleased to report an update on trading for the period from 1 January 2024 to 30 June 2024.
Overview
Playtech delivered a good trading performance during the period, with a broad continuation of the trends noted in our AGM trading statement in May 2024.
The Board now expects 2024 Adjusted EBITDA to be slightly ahead of current consensus expectations, mainly driven by a strong performance within the B2B division.
Divisional review
B2B
The first half of 2024 saw Playtech's B2B division perform well, driven by a combination of revenue growth in the Americas and a focus on tighter cost control.
As noted in a separate announcement issued today, Playtech has reached agreement on the terms of a revised strategic agreement with Caliplay. Playtech has now received updated information on Caliplay's financial performance and confirms that Caliplay has continued to perform strongly in the first half of 2024.
Good strategic progress continues to be made in the US and Canada, which delivered very strong growth, albeit from a small base. We also saw a growing contribution from Colombia.
B2C
Snaitech continues to see underlying growth in wagers against a tough comparative while being negatively impacted by customer-friendly sporting results in Italy, particularly at the start of the year.
On 14 August 2024, Playtech confirmed that it is in discussions with Flutter around the potential sale of Snaitech. Discussions continue, although there can be no certainty that any transaction will ultimately be agreed, or as to its terms. Further announcements will be made as and when appropriate.
H1 2024 results date
Playtech will release its interim H1 2024 results on 30 September 2024. There will be an in-person results presentation at 9am at the London Stock Exchange, 10 Paternoster Square, EC4M 7LS, which will also be accessible via audio webcast. Conference call dial-in details will also be provided.
- ENDS -
For further information please contact:
| Playtech plc | +44 (0) 20 3805 4822 |
| Sandeep Gandhi, Head of Investor Relations | |
| Headland (PR adviser to Playtech) | +44 (0) 20 3805 4822 |
| Lucy Legh, Jack Gault | |
About Playtech
Founded in 1999 and premium listed on the Main Market of the London Stock Exchange, Playtech is a technology leader in the gambling industry with over 7,700 employees across 19 countries.
Playtech is the gambling industry's leading technology company delivering business intelligence driven gambling software, services, content and platform technology across the industry's most popular product verticals, including, casino, live casino, sports betting, virtual sports, bingo and poker. It is the pioneer of omni-channel gambling technology through its integrated platform technology, Playtech ONE. Playtech ONE delivers data driven marketing expertise, single wallet functionality, CRM and responsible gambling solutions across one single platform across product verticals and across retail and online.
Playtech partners with and invests in the leading brands in regulated and newly regulated markets to deliver its data driven gambling technology across the retail and online value chain. Playtech provides its technology on a B2B basis to the industry's leading retail and online operators, land-based casino groups and government sponsored entities such as lotteries. Playtech directly owns and operates Snaitech, the leading sports betting and gaming company in online and retail in Italy.
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.