Playtech announces ‘very strong online performance’ in trading update

By Peter Lynch

Playtech says its ‘very strong online performance’ has continued in its latest trading update, covering the period from 1 January to 30 June 2021.

The group says it has performed in line with its expectations, with its online businesses continuing to perform very strongly, as retail in Italy began to reopen from mid-June.

Highlights from the period include the multi-state, multi-product deal with the Greenwood companies, which operate the Parx Casino, and subsequently launched in Michigan with further launches planned for the latter stages of 2021 and into 2022.

And in Europe, the group entered into a strategic agreement with Holland Casino. Playtech also announced a global distribution agreement with Scientific Games, while its business in Asia was stable through H1, in line with the levels achieved in H2 2020.

“Whilst the Covid-19 pandemic continues to pose challenges and the macroeconomic outlook remains uncertain with the possibility of further unexpected lockdowns, given the strong H1 performance and the momentum within the business, the board is confident of the company's prospects for the remainder of 2021 and beyond,” a statement from Playtech read.

The company added that it expects to publish a supplementary circular in the coming days to update shareholders on the Finalto sale process, while it will announce its interim results on 23 September 2021.

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