Playtech set to hit EBITDA target

By Matthew Enderby

Playtech said it remains on course to achieve adjusted EBITDA of between €320m ($360m) and €360m for 2018.

The supplier has released a trading statement for the period since 30 June and figures show performance is consistent with forecasts from the half-year stage.

Revenue received from the Asian market has stabilised at approximately €150m.

B2B trading in the gaming division has followed trends discussed in August, with Playtech reporting "good revenue growth" outside of Asia.

Snaitech, the Italian supplier which Playtech acquired a 70.6% stake in back in July, has continued momentum from the first half of the year, with the gaming company meeting expectations.

The trading update also said the rest of the B2C division was in line with expectations.  

Discussing the group’s financial position, the update disclosed that, for the period since 30 June, Playtech has "improved efficiency of its balance sheet" through the sale of its shares in Plus500 and successfully completed a €530m bond offering.

 

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