Playtech revenue down 4% for H1 2021

By Peter Lynch

Playtech has reported revenue of €457.4m ($535.9m) for the six months ended 30 June 2021, a decline of 4% from the prior-year period.

Adjusted EBITDA grew 13% to €124.1m, while adjusted post-tax profit rose 1460% to €54.6m. Americas is now the biggest growth driver for the company, with revenue growth of 106% at constant currency compared to H1 2020.

Playtech noted that H1 2021 results were “in line with expectations at the start of the year,” with online strength offsetting the impact of the retail closures in Italy, which according to the group lasted longer than expected.

Highlights for the period included the continued progress in the US; launching with Parx in Michigan, and forming new strategic partnerships with Scientific Games and Novomatic. Further licence applications are currently underway.

And significant board changes also took place, with Brian Mattingley joining as Chairman on 1 June, Ian Penrose becoming Senior Independent Director, and Linda Marston-Weston appointed as Non-Executive Director, effective 1 October 2021.

“I am delighted by our strong strategic and operational progress to date in 2021, despite the ongoing challenges posed by the pandemic,” said Playtech CEO Mor Weizer. “These results demonstrate the quality of our technology and products, the significant progress made against our strategic priorities, and wider momentum across Playtech’s operations.”

Weizer also pointed to the group’s future prospects, saying: “Looking forward, given the strong H1 performance, the momentum in the business and the easing of lockdown restrictions, we are confident of Playtech’s prospects for the remainder of 2021 and beyond.”

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