Playtech reports 73% revenue rise for H1 2022

Playtech has reported revenue of €792.3m ($777.9m) for the six months ended 30 June 2022, a 73% increase from the prior-year period.

playtech h1

Adjusted EBITDA grew 64% year-on-year to €203.8m, with reported profit declining by 82% to €71.4m.

The group noted that its H1 2022 performance was driven by regulated B2B markets, with Americas growing 50% year-on-year, and Europe (excluding UK) growing 39%, resulting in B2B revenue growth of 17%.

Snaitech’s online business meanwhile helped drive a strong B2C performance, with Snaitech reporting revenue growth of 182% to $446m, and Adjusted EBITDA growth of 154% to €131.7m.

“In spite of the broader macroeconomic and geopolitical uncertainty, the group is well placed to continue to deliver against its stated strategy,” a statement from Playtech read.

The group also noted strong cash generation in H1, as well as the completion of the sale of Finalto in July.

“I am delighted with the positive start that the group has made in the first half of 2022, delivering a financial performance ahead of our expectations with significant strategic and operational progress made against our objectives,” said Playtech CEO Mor Weizer.

“Our success in the period was powered by our B2B business in the Americas and Europe, alongside yet another excellent contribution from Snaitech. We continue to make great strides in executing our US strategy, launching with Parx Casino in Pennsylvania, signing several exciting deals with leading global and US brands, and progressing with additional licence applications.

“The Americas remain one of the group’s biggest growth drivers, with continued strong revenue growth in Mexico as well as Brazil complemented by new launches and partnerships in the US, Canada and Peru.”

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