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Playtech Records 33% Revenue Increase In 2022 Fiscal Year

Posted on April 5, 2023 | 7:26 am

Playtech, the well-known provider of slot games and live casino content, has reported a 33% year-on-year increase in revenue to 1.60 billion euros in its full-year 2022 results.

According to a company statement, the positive results recorded in 2022 were driven by strong growth in the firm’s B2B and Snaitech businesses. The provider’s adjusted earnings before interest, tax, depreciation, and amortization (EBITDA) rose by 28 percent to 405.6 million euros, while adjusted post-tax profit increased by 26 percent to 160.5 million euros.

The B2B segment saw “very strong” growth according to the company in regulated markets, with total revenue up 14 percent to 632.4 million euros. Mor Weizer, the Chief Executive Officer of Playtech, praised the company’s record results, attributing the performance to all parts of the business working in tandem.

Mor Weizer also took the time to acknowledge the bravery of Playtech’s Ukrainian employees, who represent around 10 percent of the company’s total workforce, during the ongoing war in the region.

In terms of Playtech’s B2C operations, Snaitech saw a 54 percent rise in revenue, from 584.7 million euros in 2021 to 899.8 million. This reflected a rebound in the operations following the business’ retail network being closed for almost the entire first half of 2021 due to the Covid-19 pandemic.

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Significant Progress in North America

The Chief Executive Officer of Playtech highlighted that the company made “significant progress” in executing its strategy of expansion into the United States and North America in general, pointing to several agreements announced over the past year. In fact, Playtech launched in Ontario in partnership with NorthStar Gaming and also unveiled live casino studios in Michigan and New Jersey.

The company statement added that it remains confident in its future prospects, “despite the continued macro-economic and political uncertainty,” and its ability to deliver value to all its stakeholders in a sustainable and responsible way.

Neil Shah, director of investment at Edison Group, a prominent research firm, attributed Playtech’s robust performance to B2B markets, particularly regulated segments, which saw a 14 percent growth in revenues compared to 2021.

Source“Playtech FY: Strong B2B segment drives 33% revenue growth“iGaming Business. March 23, 2023.

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