Nov 05, 2026 | 4:08 am
Playtech has increased its 2026 adjusted EBITDA forecast to more than €300 million after stronger-than-expected trading across the Americas, although the supplier has warned that several market developments could weigh on earnings next year. The revised outlook, announced on November 10, exceeds the €279 million average analyst estimate and marks the company's second guidance upgrade in four months.
The performance reflects continued demand for Playtech's products in the US, Mexico and Colombia, with its partnership with Hard Rock Digital providing a particularly significant contribution. Its Past Motor Racing (PMR) games have gained traction through Hard Rock Bet in Florida, attracting additional suppliers to a market that could become increasingly competitive.
Playtech also identified Brazil's betting restrictions and higher gambling taxes in the UK and other European markets as factors that could affect its 2027 financial performance. Although the company expects this year's earnings to exceed its previous targets, it has acknowledged that maintaining the same momentum will become more difficult.
Americas Growth Pushes Playtech Above Its Earnings Target
Playtech's latest trading update covers the four months from July 1 to October 31. The company now expects full-year adjusted EBITDA to exceed €300 million, compared with the minimum €270 million forecast it established in July.
The previous guidance remained unchanged when Playtech reported its first-half results in September. Adjusted EBITDA for the six months increased 77% to €162.5 million, although management had cautioned that second-half earnings would be lower than the first-half figure.
The November revision places the expected 2026 result above the company's medium-term adjusted EBITDA target range of €250 million to €300 million.
Seven analysts who updated their estimates following the half-year results had projected full-year EBITDA between €271 million and €285 million, producing an average forecast of €279 million. Two analysts with older estimates were excluded from Playtech's comparison.
The same group expects adjusted EBITDA of approximately €266 million in 2027. Playtech has not issued its own earnings forecast for that year.
CEO Mor Weizer attributed the latest upgrade to sustained activity in regulated markets, particularly across the Americas. He 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.’”
Playtech confirmed that PMR revenue remained strong during the four months covered by its latest update.
The success has also prompted competitors to enter the segment. Playtech's first-mover advantage helped establish its position, but the arrival of other suppliers is expected to reduce its share of Hard Rock's PMR business.
IGT and Light & Wonder Increase Competition
IGT entered Hard Rock's Florida platform in August, introducing five PMR titles based on established casino games, including Cash Eruption, Cleopatra and Triple Cash Eruption.
The initial response was encouraging. All five releases appeared among Hard Rock's 13 most-played PMR games by unique players in September. Triple Cash Eruption ranked third, while Cash Eruption occupied fourth place.
October's rankings showed a different picture, with six new entries reaching the top 10 and none of IGT's original five titles retaining a position in that group. Playtech's Oink Oink Oink continued to lead the rankings, having held the top spot in all but two months since the product category launched.
Light & Wonder (LNW) joined the market on November 5 with Huff N' More Puff, bringing another established casino franchise into Hard Rock's expanding offering. By November 10, the PMR library had grown from 21 titles at its October 2025 launch to 148.
The range has also moved beyond slot-style presentations. Hard Rock introduced Playtech's Lucky Box Baccarat in October, demonstrating that the format can accommodate other casino game concepts.
Top Roulette casinos
400%
up to
$ 4000
$ 4000
New customers only. T&C apply. 18+. This offer is not available for players residing in Ontario. New customers only. T&C apply. 19+. Min Deposit: $20. Max Bet: $5. Max Cashout: 10xDeposit. Cashable Bonus. Selected games only: See the website for a list of online slots.
100%
up to
$ 1000
$ 1000
New Customer Offer. T&C’s Apply. 18+. A minimum deposit of $20 is required to be eligible for the Welcome Bonuses.
250%
up to
$ 2500
$ 2500
New Customer Offer. T&C’s Apply. 18+. This offer is not available for players residing in Ontario. New Customer Offer. T&C’s Apply. 19+. Play Responsibly. Welcome Pack is valid for slots, table games and specialties on the first 3 deposits of $25+ (Neosurf $10+) and up to $1000; WG x35, max cash out x20. Get 250% on the first deposit, 200% on the second, and 150% on the third one. Get extra 50% for crypto deposits.
Brazil and Higher Taxes Add Pressure to 2027 Outlook
Beyond increased competition in the US, Playtech identified regulatory developments in Brazil and higher gambling taxes across Europe as additional risks to next year's earnings.
Brazil represents a particular concern following President Luiz Inácio Lula da Silva's decision to sign Provisional Measure 1,394 on September 25. The measure introduced a nationwide ban on fixed-odds sports betting and online casino games, with licensed operators required to take their websites offline on October 6.
Congress has 120 days to approve the measure before it expires. Playtech said it expects to absorb approximately three months of disruption in Brazil during 2026. If the restrictions remain in place, the financial impact could become considerably greater in 2027.
The company also highlighted the UK's increased Remote Gaming Duty. The government raised the tax rate from 21% to 40%, effective April 1, 2026. Although operators pay the duty directly, Playtech expects the change to affect its customers and consequently its own commercial environment. Next year will be the first full financial year under the higher rate.
Additional gambling tax increases in other European markets also feature in the supplier's assessment of the coming year.
These developments help explain why the analyst consensus for 2027 stands below the revised 2026 outlook. The seven analysts tracked by Playtech currently expect adjusted EBITDA of approximately €266 million, compared with the company's latest guidance of more than €300 million for this year.
Source:
“Playtech lifts 2026 earnings guidance above €300m but flags a tougher 2027“, europeangaming.eu, November 11, 2026.