Playtech’s revenues climb thanks to Americas and B2B boom
Gambling software development firm Playtech reported strong full year results this morning, with group revenue up 11 per cent to €1.21bn, driven by B2B online growth, particularly Latin America.
Its strong online performance offset the impact of lockdowns and drove B2B revenue growth of 11 per cent at constant currency to €554m.
Americas revenue grew 64 per cent for the group’s B2B offering to €101.3m.
There was strong growth in its Live Casino offering, with the opening of four new facilities across US and Europe in the past year.
The company posted a post-tax profit of €127.6m, up a whopping 340 per cent from 2020 figures.
Commenting on the results, chief executive Mor Weizer said: “Our strong performance is underpinned by our B2B business, in particular the tremendous growth we have seen in the Americas. We have made real progress in the execution of our US strategy, supported by new licences, new launches and new partnerships, and we continue to go from strength to strength in Latin America, buoyed by new strategic agreements across the region.”
“In B2C, the story is similar, with Snaitech continuing to outperform the market, achieving the position of the number one brand across sports betting and retail in Italy.”
In the last year, the firm have sold Casual and Social Gaming and disposed of Finalto due to complete later this year.
However, Weizer did add: “The macro-economic picture is of course uncertain, but we have started 2022 strongly, and with our businesses continuing to perform we are confident in our ability to continue to deliver against our strategy.”
It also appointed Brian Mattingley as Chairman in June last year, who said this morning that the board “remains confident in the long-term prospects” of the company.
Playtech revealed the recommended offer from Aristocrat did not receive the requisite level of shareholder approval, but said discussions with the TTB investor group regarding its potential offer for the firm are ongoing.