Playtech registers ‘ahead of expectation’ performance as earnings up 64 per cent
Playtech’s registered a “ahead of expectations” performance driven by growth in both the Americas and Europe.
For the six months ended 30 June, the gambling developer posted an adjusted EBITDA of £178m (€203.8m), up 64 per cent on last year’s levels.
The company’s revenue went up 73 per cent to €792.3m, while its adjusted post-tax profit increased to €94.3m.
Italian subsidiary Snaitech delivered an especially “excellent performance” in the online market despite the reopening of retailers. Growth went up 182 per cent while its adjusted EBITDA surged 154 per cent.
“I am delighted with the positive start that the group has made in the first half of 2022, delivering a financial performance ahead of our expectations with significant strategic and operational progress made against our objectives,” said chief executive Mor Weizer.
“The macroeconomic outlook remains uncertain given geopolitical tensions and inflationary pressures, however we have seen our excellent performance in H1 continue into H2 and expect to see continued strong results from both our B2B and B2C businesses.”
Against the backdrop of political and financial turbulence, Playtech said it remained confident about its future prospects.