Playtech announces record results for 2016
Industry provider Playtech has reported impressive growth in its 2016 full-year results, with revenue rising 20% at constant currency to €708.6m, led by the company’s “flagship casino offering”.
Adjusted EBITDA also climbed year-on-year at constant currency, up 32% to €302.2m, while adjusted net profit grew by 42% to €206.2m.
The supplier also spent €240m on a fleet of acquisitions through 2016, including those of BGT, Quickspin and ECM.
The report also paid notice to the company’s efforts at “locking-in” future growth, with over 10 new clients signed in 2016 including Pokerstars, MaxBet and Mr Green.
Alex Jackson, Chairman of Playtech, said: “Playtech has continued to successfully execute its strategy for strong operational and financial performance, strategic M&A and shareholder returns.
“The Gaming division once again delivered very strong growth. Sports saw a good second half performance following the acquisition of BGT with the newly formed Playtech BGT Sports bringing together all aspects of the Playtech’s sports offering creating a fully integrated, best-in-class sports betting technology.
“The year was a strong year for M&A with €240 million spent on acquisitions including BGT, CFH, Quickspin and ECM.
“Management remains confident of a strong performance in 2017 and beyond.”
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