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Further strategic and operational progress for Playtech 2021

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Playtech expects an adjusted EBITDA of €300m for 2020 with a focus on strategic and operational progress for 2021.

Playtech is one of the largest players in the online gambling industry with an impressive track record.

This iGaming solutions giant was expecting a €300m (£268m/$365m) in earnings for 2020 before deductions.  

The rise in earnings is well earned through a number of milestones the industry leader hit within the year.

Innovation, expansion and next-gen technology

Playtech plc, founded in 1999, is a gambling software development company that has grown to become an industry leader.

The company is a premium provider of software for online casinos, online poker rooms, bingo, sports betting, mobile gambling, live dealer games, and more.

Playtech is a leader in next-generation technology and content, pioneers of omnichannel gambling with seamless gaming options available for integration. On top of that, they are innovators in game design and offer a complete solution for quality gaming.

Through hard work, resilience and commitment, Playtech keeps a firm hold of its position as one of the industry leaders in iGaming.

Increasing market reach

Playtech has been focusing its effort on expanding in the overseas markets. In 2020 it entered the United States. After receiving their license from the state of New Jersey, they launched bet365 and Entain. In December they also received regulatory approval from the state of Michigan.

The company's business grew stronger within Latin American including strong growth to places in Mexico as well as entering Colombia with Wplay. Playtech signed multiple new structured agreements in Guatemala, Costa Rica, and Panama.

Snaitech, Playtech's Italian B2C subsidiary, also continues to increase its growth, strengthening within the Italian market. With the launch of Sustainable Success, the company's corporate social responsibility strategy, it will continue to consolidate its position as a market leader. Providing safer products, data analytics and player engagement solutions.

These changes, expansions and enhancements ensured a solid financial performance for 2020 with Playtech revealing it expected an adjusted EBITDA of a minimum €300m. Which would be an impressive increase from 2019's recorded €214.8m.

The company stated that while COVID-19 continues to pose challenges and uncertainties arise, they are well placed to continue strategic and operational progress throughout 2021.

One of the top priorities is to simplify the business and dispose of all non-core assets. After the sale of YoYo Games, Playtech has managed to dispose of all its casual and social gaming assets.
The most recent results revealed a 22.5% year-on-year decline in revenue to €564m. EBITDA for the six months up to 30th of June 2020 as down 15.8% at €138.1m with net profit falling to €44.6m. All final results for the year are to be published on 11 March 2021.

Continued growth for 2021

Playtech expanded their US offering by reaching a licensing agreement with IGT. Allowing Playtech to offer games in the US which includes features patented in IGT's US patent portfolio.

For Playtech Sports, it's also quickly turning into a big year as it gains more ground within Europe. A new deal struck with Danske Spil allows the provider to introduce new virtual sports gambling products which could help the national lottery operator of Denmark expand its current line-up. These products are already in place and provide various options that will excite.

The industry leader will continue its expansion and growth throughout 2021, looking to gain more footing by expanding into other new or developing markets.

Players and operators can expect more high-quality game releases, innovative technological advancements and partnerships from Playtech in 2021.

Published: February 15, 2021

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Article by Stelly

CasinoWow Contributor

Hey there! I am Stelly, and happily, I'm part of CasinoWow's content team. It excites me to be able to write and share with all gambling enthusiasts unbiased reviews and news that contribute to the gambling community and industry. Thankfully, I also have the chance to help you make an informed choice for casino brands and games, as well as provide interesting guides and news.

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