Playtech updates adjusted EBITDA outlook to €400m for 2022
Playtech has adjusted its EBITDA outlook for 2022 after it has continued to perform “strongly” following its H1 2022 interim results.
As such, the company’s unaudited adjusted EBITDA for the full year 2022 is expected to be at least €400m ($435.5m), according to Playtech.
Were this to be the case, Playtech’s adjusted EBITDA for 2022 would represent a 26% increase on the full-year 2021.
Playtech adds that the driving force for this improved financial outlook has been the success of its B2B and Snaitech businesses.
The company’s results for the full year 2022 will be released on 23 March 2023.
The news of its expected EBITDA growth comes after it already reported a 73% revenue rise for H1 2022, posting €792.3m for the half-year.
Adjusted EBITDA for H1 grew 64% year-on-year to €203.8m, with reported profit declining by 82% to €71.4m.
At the time, the group noted that its H1 2022 performance was driven by regulated B2B markets, with the Americas growing 50% year-on-year and Europe (excluding UK) growing 39%, resulting in B2B revenue growth of 17%.
News of Playtech’s expected growth in adjusted EBITDA follows the recent appointment of Samy Reeb to its board of directors.
Reeb was appointed as a new independent Non-Executive Director – joining with extensive experience working with global business in the wealth and tax advisory industry.
The end of 2022 also saw Playtech sign several deals; supplying BetVictor Group with casino content and adding AdmiralBet to its iPoker network in November 2022.
A month earlier, Playtech added PokerMatch content to its iPoker needed too.
Gambling Insider delivers the latest industry news, in-depth features, and operator reviews that you can trust. Our team combines rigorous editorial standards with decades of specialized expertise to ensure accuracy and fairness. We are committed to delivering clear, impartial, and dependable coverage across the global gambling sector.
