Sep 04, 2026 | 4:07 am
Playtech reported sharply higher earnings for the first six months of 2026, with growth in North America and Latin America helping the company outperform its own expectations and strengthen confidence in its full-year outlook.
The technology supplier, which now operates solely as a B2B business following its strategic transformation, recorded significant gains across several key financial metrics during the period ended 30 June. Strong momentum in regulated markets across the Americas played a central role in the performance, particularly in the United States, where revenue more than doubled.
Despite forecasting a softer second half due to tax pressures in the UK and normalization in certain US revenue streams, Playtech said it remains on course to exceed its full-year earnings target.
US Expansion Powers Earnings Growth
Group revenue increased 10% year-on-year to €425.1 million, while adjusted EBITDA climbed 77% to €162.5 million. Adjusted EBITDA from operations rose 79% to €128.3 million, reflecting stronger profitability across the business.
The B2B division accounted for the vast majority of the improvement. Revenue from the segment reached €394.8 million, representing a 14% increase, while divisional adjusted EBITDA rose 75% to €128.1 million. The division’s EBITDA margin expanded from 21.1% to 32.4%.
North America delivered the strongest regional growth. Revenue from the United States and Canada surged 161% to €56.9 million, compared with €21.8 million during the same period last year.
Playtech attributed much of that increase to Games powered by Past Motor Racing, a product developed for Hard Rock Bet in Florida. The offering settles wagers using outcomes from historical motor-racing events rather than traditional random number generation.
The company also continued expanding its regulated US footprint during the first half. Playtech launched operations in Connecticut, bringing its presence to six regulated iGaming states. Additional rollouts included FanDuel in West Virginia, Bet365 in Michigan and Fanatics across multiple states.
Chief Executive Officer Mor Weizer said: “Playtech has delivered a first half significantly ahead of our expectations at the start of the year, demonstrating the strength of our technology, the quality of our customer partnerships and the disciplined execution of our strategy. We saw continued momentum in regulated markets, particularly in the Americas.”
Latin America and Europe Add Support
Latin America remained another important contributor to Playtech’s results.
Revenue from the region increased 14% to €99.9 million. On an underlying basis, excluding the impact of changes to the Caliente Interactive agreement that affected prior-year comparisons, growth reached 29%.
Mexico and Colombia were identified as the strongest-performing markets during the period.
Elsewhere, revenue from Europe excluding the UK rose 2% to €104.5 million. When adjusted for a one-time hardware sale recorded in the previous year, growth in the region reached 10%.
Spain and Poland delivered the strongest performances among Playtech’s European markets.
Investment income also provided a meaningful boost. Adjusted EBITDA from investments increased 73% to €34.2 million, primarily due to Playtech’s 30.8% stake in Caliente Interactive.
The value of Playtech’s investment in Hard Rock Digital continued to appreciate. The holding was valued at €246.7 million at the end of June, up from €178.8 million at the close of 2025. Playtech initially invested approximately €80 million in the business during 2023.
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UK Headwinds Expected to Impact Second Half
While international markets delivered strong growth, Playtech experienced a decline in the UK.
B2B revenue in the market fell 8% to €59 million after the remote gaming duty rate increased from 21% to 40% on 1 April 2026. The higher tax burden affects Playtech indirectly through the operators that use its products and services.
Only three months of the increased duty were reflected in the first-half results. Playtech expects the impact to be more pronounced during the second half, when the higher rate will apply across the entire six-month period.
The company also reported mixed developments elsewhere in its financial position.
Free cash flow improved significantly, rising to €101 million from €6.6 million a year earlier. Net cash stood at €39.2 million at 30 June, higher than the €28.5 million reported at the end of 2025 but below the €77.1 million recorded a year ago, when proceeds from the sale of Snaitech remained on the balance sheet.
One notable setback involved NorthStar, the Canadian operator. Playtech booked a €28.9 million provision related to its guarantee on a loan to the company after NorthStar became subject to a cease trade order from the Ontario Securities Commission.
The supplier also continued returning capital to shareholders. During the first half, Playtech repurchased approximately 1.8% of its share capital for €24.6 million. Since September 2025, the company has bought back roughly 10% of its issued shares at a cost of around €100 million. No interim dividend was declared.
Playtech maintained its guidance of more than €270 million in adjusted EBITDA for the full year and now expects to finish near the top of its previously stated medium-term target range of €250 million to €300 million.
Looking ahead, management expects second-half earnings to moderate as revenue from Hard Rock Digital returns to more typical levels, investment continues ahead of an anticipated Brazil partnership later in 2026, and the full impact of the UK’s higher remote gaming duty takes effect.
Source:
“Playtech on LinkedIn“, linkedin.com, September 10, 2026.