Playtech revenues up a third for H1

By David Cook
Provider Playtech has reported a 33% revenues increase to €286m for the six months ended 30 June.

The revenue growth was 29% when excluding acquisitions and adding back the impact of the UK point of consumption tax.

Reported net profit was €83.9m, up 11%, while adjusted net profit was €115m, up 19%.

Adjusted EBITDA climbed 16% to €112.9m and adjusted earnings per share ascended 19% to €c39.6.

Playtech also reported an accelerated £75m consideration after the end of the period, agreed under a marketing services agreement with operator Ladbrokes conditional on completion of the recommended merger between Ladbrokes and fellow operator Gala Coral.

Playtech chairman Alan Jackson said: “Our continued operational delivery across all business segments has translated into a strong financial performance across all key metrics, with revenues up by a third in the half year.”

The completion of Playtech’s acquisition of a majority stake in platform and payments services provider Trade FX, now called Markets Limited, was announced in May.

Playtech also expects to complete its acquisitions of trading platform Plus500 for an approximate £459.6m and Forex broker Ava Trade for $105m by the end of September, subject to regulatory approval.

The acquisition of Ava Trade is being made by Playtech’s TradeFX Limited subsidiary.

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