Playtech Registers Record Earnings in First Half of 2023

Playtech, one of the world’s most powerful developers of slot games and live dealer games for online casinos, has announced that the first half of 2023 has brought record earnings for the company.

The software and content supplier released a trading update for the six months to 30 June 2023 and revealed that its revenue for this period amounted to 859.6 million euros, a figure which represents an increase of 8 percent compared to the similar period of 2022.

Playtech also operates its own online casino and sports betting brands, Snaitech, HAPPYBET and Sun Bingo, which managed to bring in 532.1 million euros during the first half of 2023. The company’s business-to-business segment also registered a 7 percent growth in revenue to a total amount of 334.5 million euros.

Mor Weizer, the Chief Executive Officer of Playtech, attributed the company’s success during the first half of the year to its diversified portfolio of activities, which includes both business-to-business and business-to-consumer activities.

The CEO also pointed out that the company has managed to expand into the United States, especially after having reached an agreement to purchase a stake in Hard Rock Digital. Playtech also recently managed to launch its Adventures in Wonderland live game show in the United States, which is broadcast from a brand-new live casino studio that the company has set up in New Jersey. The company has also expanded its business in the Canadian province of Ontario, where it made a strategic investment in Toronto-based NorthStar Gaming.

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Playtech also made agreements with top iGaming operators in the United States in recent months, including 888, Rush Street Interactive and PokerStars, which allowed the company to expand its offering into ten different states.

The company’s revenue from the Americas registered a 43 percent increase year-on-year to almost 100 million euros, while the European markets (excluding the United Kingdom) managed to bring in another 96.6 million euros, representing an increase of 5 percent compared to the first half of the previous year.

The company also reported a record total adjusted earnings before interest, tax, depreciation, and amortization (EBITDA) of 219.9 million euros, which represents an increase of 10 percent year-on-year. Its reported profit before tax amounted to 79.6 million euros for the first half of the year.

Source:

“Playtech lifts expectations as Americas growth drives record H1 earnings“, igamingbusiness.com, January 4, 2023.