Oct 09, 2026 | 6:56 am
Playtech expects adjusted EBITDA to exceed €300 million for 2026 after trading performed ahead of expectations during the four months to October. The updated outlook reflects continued strength in the Americas, with the company’s US partnership with Hard Rock Digital making a significant contribution. The forecast also stands above the previous analyst consensus of €279 million.
The trading update covers the period from July 1 to October 31. Playtech reported sustained activity across its Americas operations, while its businesses in Mexico and Colombia received additional support from tailwinds following the Men’s FIFA World Cup.
Management identified increased competition in the US and regulatory changes in Brazil as factors that could affect 2027 performance.
US Betting Product Supports Earnings Growth
Playtech credited its early entry into the past motor racing (PMR) betting segment for part of its US performance. The company launched the product with Hard Rock Digital in the first half of 2026 after an extended development investment. Revenue remained strong during the second half, contributing significantly to profitability and cash flow.
Other third-party PMR suppliers are entering the market. Playtech expects this competition to have a greater effect on its share of customer spending in 2027.
Before the update, seven analysts had estimated average adjusted EBITDA of €279 million, with forecasts ranging from €271 million to €285 million. Two analysts with outdated estimates were excluded.
Peel Hunt increased its 2026 adjusted EBITDA forecast by 6% to €300 million, citing stronger Americas trading. The broker maintained its 2027 forecasts, Buy recommendation and 690.0p price target. It called the PMR product’s success the result of ‘astute investment by management’ and said its higher net cash forecast increased the likelihood of a shareholder capital return.
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Tax And Regulatory Changes Could Affect 2027
Playtech expects political and regulatory developments in Brazil to affect 2026 adjusted EBITDA for three months. The impact could increase next year if the existing market shutdown continues.
The company is also absorbing the higher UK Remote Gaming Duty, which took effect in April 2026. Its first full-year impact will fall in 2027, alongside increased taxation in other European markets.
CEO Mor Weizer said: “We have continued to deliver an excellent performance in 2026 to date, reflecting sustained momentum in regulated markets, notably the Americas. Performance in the US, driven by our partnership with Hard Rock Digital, has remained strong, contributing significantly to profitability and cash flow, while Mexico and Colombia have benefitted from tailwinds after the Men’s FIFA World Cup.
“Looking to 2027, we expect performance to reflect growing competition from third-party PMR suppliers in the US, political and regulatory developments in Brazil and the first full-year impact of increased Remote Gaming Duty in the UK. That said, we remain confident in the underlying strength of the business and the significant opportunities ahead as we continue to expand our presence in regulated and regulating markets and work towards the top-end of our medium-term targets.”
Playtech plans to continue expanding in regulated and regulating markets, targeting the upper end of its medium-term goals.
Source:
“2026 ahead of expectations driven by Americas outperformance”, otp.tools.investis.com, November 10, 2026