In H1, the LSE-listed gambling group reported revenues of £906 million, a 5% increase from the £859 million recorded in 2023.
Playtech Plc has assured investors that it is on track to meet its full-year 2024 objectives, following strong results in the first half of the year.
In H1, the LSE-listed gambling group reported revenues of £906 million, a 5% increase from the £859 million recorded in 2023. This growth was driven by the solid performance of its B2B division. Playtech also saw a 13% rise in EBITDA, reaching £233 million compared to £207 million in the previous year, allowing the company to report adjusted interim profits of £105 million, up from £86 million in H1 2023.
With results surpassing initial guidance, Playtech is confident in achieving its “B2B Adjusted EBITDA medium-term target range of €200m to €250m for FY 2024, ahead of schedule.”
The company has also reaffirmed its commitment to returning between €1.7bn and €1.8bn to shareholders, following the agreed sale of its B2C division, Snaitech Italia, to Flutter Entertainment for €2.3bn, with the deal expected to close in H2.
Playtech’s commercial outlook is further strengthened by the resolution of its revised technology and services agreement with its Mexican joint venture, Caliplay. This agreement ensures expanded opportunities in the Americas and secured €150 million in outstanding services fees.
Group CEO Mor Weizer commented:
“These results highlight the progress we’ve made this year. We’ve successfully executed our strategy to grow and enhance our B2B business, delivering strong growth across key markets with tight cost control. We’re particularly pleased with the revised agreement with our partner in Mexico, Caliplay, which positions us for significant growth in the coming years.”
Weizer also emphasized the importance of the Snaitech sale, stating:
“Snaitech has been central to Playtech’s growth, and the team delivered another solid performance despite challenging sporting results. We’re excited about the future of Playtech’s remaining business and the opportunities ahead.”