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Playtech shows phenomenal HY results through B2B and Americas

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Playtech has high hopes for H2 with continuous growth in Latin America, and its B2B business segment.

Casino gaming provider Playtech announced its half-year financial result for the period ending on 30 June 2021. The software developer proudly shows an actual turnover of €457.4 million, in line with the projection made for this financial year.

Considering the major impact of extended closures in the retail gambling sector, the 4% drop in turnover compared to the same period in 2020, is foreseen.

Mor Weizer, Playtech’s CEO, said:

“I am delighted by our strong strategic and operational progress to date in 2021, despite the ongoing challenges posed by the pandemic. These results demonstrate the quality of our technology and products, the significant progress made against our strategic priorities, and wider momentum across Playtech’s operations.”

Latin America and B2B Blooms

According to its half-year financial report, the company’s B2B business segment saw impressive revenue growth of 16% with a turnover of €267.2 million as opposed to H1 2020 ending on €229.7 million.

Playtech explained that this is due to the phenomenal performance of its B2B online division, which offset the impact of lockdowns worldwide.

The company continues expansion in the US and Latin America online casinos and accomplished a 106% growth on last year’s turnover of €22.9 million in the Americas, ending on €46.4 million for H1 2021.

Significant growth in Caliente, Mexico, as well as WPlay from Columbia growing its contribution with new launches in Panama and Costa Rica, Latin America.

“Significant progress in the US saw Playtech launch for the first time in Michigan, the first step in our long-term multi-state partnership with Parx Casino, and regulatory approvals progressed in key strategic states.

Structured agreements continue to deliver in Latin America, with strong growth in H1 in Mexico and Colombia and launches in Panama and Costa Rica. In Europe, we signed a major new software and services agreement with Holland Casino and saw continued growth across a number of existing licensees,” said Weizer.

B2B explained is one business directly providing services to another business and Playtech provides its technology solutions on a B2B basis to Playtech Casinos. We know the company for partnering with the online gambling industry’s leading operators and Playtech is also the pioneer of omnichannel gaming.

This year’s first half sees the provider add more than 50 brands to its Saas offering, resulting in a 128% revenue growth as they continue to diversify their B2B portfolio.

The company’s product offering includes a lot more than Playtech Games. Their product suite includes Casino Games across all channels and devices, Live Casino products, Sports Betting Solutions, Virtual Sports, Poker, Bingo, and Retail Casino products.

Mexos, another one of Playtech’s solutions, is an end-to-end marketing product that is flexible, scalable, and reliable. Finalto is Playtech’s financial solutions division and Playtech ONE is a unique cross-product solution enabling seamless player experience across any device or channel.

Against All Odds

Snaitech, Playtech’s online sports betting business, saw excellent revenue growth in the online business segment of 95% to €123.4 million and adjusted EBITDA growth of 118% to €72.6 million. This growth came despite the numerous retail closures taking place in Italy due to the ongoing COVID-19 pandemic.

Snaitech finished H1 as the leading retail and online sports betting brand in Italy and the company’s adjusted EBITDA was €51.6 million (H1 2020: €47.1 million).

Playtech’s CEO, Mor Weizer, says that they are positive about the future projections of 2021 and anticipate continued growth for the company.

“Looking forward, given the strong H1 performance, the momentum in the business and the easing of lockdown restrictions, we are confident of Playtech’s prospects for the remainder of 2021 and beyond,” commented Weizer.

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