A strong half-year from Playtech’s B2B business helped steer the group’s 11 per cent rise in overall adjusted EBITA for the period.
H1 B2B revenue rose 14 per cent to €382.2m, with adjusted EBITDA climbing 38 per cent to €112.3m.
Playtech made “significant progress” in the US and Canada, where revenue is up over 200 per cent versus H1 2023.
And revenue from Playtech’s live division increased 17 per cent in H1.
In the B2C division, however, revenue was flat at €532.4m, with adjusted EBITDA declining by six per cent to €130.7m.
Overall revenue rose by five per cent to €906.8m, up from €859.6m in H1 2023.
“This set of results is further proof of the excellent progress we’ve made this year. We’ve executed our strategy to grow. and improve the B2B business, delivering broad-based growth with strong contributions across our key markets, high operating leverage and tight cost control.
“We’re also delighted to have agreed a revised strategic agreement with Caliplay, our partner in Mexico, which ensures we are well placed to capture significant growth in the coming years.
“Our plan to accelerate our presence in the US and Canada is already delivering, with revenues trebling in the period. We see a huge opportunity in this market and are pleased to have supported multiple customers with their own growth plans, while also delivering the first major milestone in our partnership with Hard Rock Digital.
“With US customers now able to experience Playtech-powered games in multiple states, soon our customers outside the US will get the opportunity to play games streamed direct from Las Vegas as part of our new agreement with MGM Resorts.
“A couple of weeks ago, we announced the sale of Snaitech to Flutter for €2.3 billion and our plan to return €1.7bn – 1.8bn to shareholders. Snaitech has been a key part of Playtech’s growth in recent years and the team delivered another solid performance in the first half, despite the impact of customer-friendly sporting results.
“We are excited about what the future holds for the remaining Playtech business and we see plenty of opportunities ahead of us.
“We have started the second half of the year well and are on track to be within our B2B Adjusted EBITDA medium-term target range in FY 2024, earlier than expected. With a clear strategy, a strong balance sheet and a great team behind us, we remain very confident in Playtech’s future prospects.”
