Published
FinancialMarketingIndustry

Analysts react to Playtech H1 results: "Substantial growth" but "lags behind peers"

Although Playtech’s H1 results show a 4% year-on-year decrease in revenue, the company reports “strong strategic and operational progress to date in 2021."

analiza

Data from the report shows strong online performance; the lockdowns had a positive impact on the revenue, generating a 16% increase, from €229.7m ($269m) in 2020 to €267.2m in 2021.

Andrew Garrod, Analyst at Third Bridge has noted Playtech’s "substantial growth in the Americas."

Garrod concluded: "Playtech has gone through a period of intense change, with adjustments to its board, a portfolio rationalisation, and attempts to improve its disclosures. Investors will now be looking for signs of sustained growth after a period of underperformance. 

"Playtech's competition in the B2B segment is forming something of a pincer movement. On one side Evolution Gaming is wielding an advantage on the live casino side. On the casino piece, Red Tiger, Microgaming, and Blueprint have closed the gap significantly on content quality."

However, Jason Ader, one of Playtech’s largest shareholders and CEO of SpringOwl Asset Management, believes the stock lags behind its peers.

He said: "Playtech’s reported earnings for H1 are strong and are likely a response to the positive changes that occurred regarding the makeup of the board, including the addition of Brian Mattingley and Linda Marston-Weston.

"These changes are instrumental to Playtech’s continued improvement and success. Irrespective of today’s impressive results, the stock still lags behind its peers.

"Moving forward, management and the board should stay laser-focused on the stock price and implementing strategies to unlock value for all shareholders."  

 

Premium+ Connections
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
 
Premium
 
Premium
 
Premium Connections
Consultancy
Executive Profiles
Seminole Hard Rock Support Services
Seminole Hard Rock Support Services
Metropolitan Gaming
Holland Casino
Follow Us

Facing Facts: Q1 2024 analysis from across the globe

Gambling Insider tracks the Q1 results of operators across t...

Taking Stock: A guide to sports betting operator and supplier prices

Gambling Insider tracks sports betting operator and supplier...

Tailor-made: The power of personalisation in the modern gaming industry

With insights from GR8 Tech, Greentube and the Oregon Lotter...

Sportradar and the Taiwan Sports Lottery: More offerings, greater efficiency

Danny Fok, VP of Strategic Projects at Sportradar, speaks al...