Playtech announces 33% revenue rise in FY2022 report

With adjusted EBITDA, total 2022 revenue for Playtech was €405.6m, when compared to €317.1m in 2021.

The company signed several deals as part of its US strategy. This included launching the IMS Platform in Pennsylvania, as well as partnering with Golden Nugget, WunnBet, Resorts and 888.

Playtech also had licences granted for the states of Pennsylvania and Colorado in 2022.

The launch in Ontario, Canada was facilitated by the launch of NorthStar and a new facility was opened in Peru.

Overall, the Americas revenue growth was reported to be 43%.

Revenue growth for Europe ex-UK was 31%, with the Netherlands leading in contributions. Poland, Spain and Ireland were also significant factors in the €184.6m total.

Mor Weizer, Playtech CEO, said: “2022 was a year of considerable strength for Playtech, in which we delivered record revenues and EBITDA, ahead of market expectations.

“All parts of the business contributed to this performance, with B2B powered by Europe (ex-UK) and the Americas, and B2C’s impressive performance underpinned by Snaitech’s continued strength in the Italian market in both retail and online.”

Including both Snaitech and white-label operations, total B2C revenue was €983.1m, when compared to €663.7m in 2021.

Snaitech exceeded business expectations, with an adjusted EBITDA margin of 56% in 2022.

Playtech has announced a medium-term target of €250m for B2B in 2023, with Snaitech’s medium-term target of €350m.

The company started 2023 by signing a deal with Hard Rock Digital.

Source: Read Full Article