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Playtech’s Revenue Climbs 73% YoY in H1 2022

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On 22 September, Playtech reported its financial results for the first half of 2022 (H1 2022). During the period, Playtech witnessed strong growth across key business segments. The company’s overall revenue reached €792.3 million in H1 2022, which is up by almost 73% compared to the same period last year.

In the latest announcement, Playtech highlighted that the company’s solid performance in the first half of 2022 was mainly driven by regulated B2B markets and Snaitech. With a jump of 64% YoY, Playtech’s adjusted EBITDA touched €203.8 million.

Playtech reported a sharp increase in growth across the American and European regions.

“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. 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 additional license applications,” Mor Weizer, Playtech’s CEO, said.

Finalto

In July 2022, Playtech completed the sale of Finalto. The company called the latest sale “a significant step” in its strategic objective to simplify the group. Playtech sold Finalto to Gopher Investments in a deal worth $250 million.

“The sale of Finalto was completed in July 2022, representing a significant step in our stated strategy to simplify the Group and focus our efforts on the high-growth B2B and B2C gambling markets. We remain well placed to capitalize on the exciting market opportunities ahead, driving sustainable growth for the benefit of all our stakeholders. We have navigated significant disruption and uncertainty in the period due to well-reported geopolitical tensions and inflationary pressures,” Weizer added.

On 22 September, Playtech reported its financial results for the first half of 2022 (H1 2022). During the period, Playtech witnessed strong growth across key business segments. The company’s overall revenue reached €792.3 million in H1 2022, which is up by almost 73% compared to the same period last year.

In the latest announcement, Playtech highlighted that the company’s solid performance in the first half of 2022 was mainly driven by regulated B2B markets and Snaitech. With a jump of 64% YoY, Playtech’s adjusted EBITDA touched €203.8 million.

Playtech reported a sharp increase in growth across the American and European regions.

“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. 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 additional license applications,” Mor Weizer, Playtech’s CEO, said.

Finalto

In July 2022, Playtech completed the sale of Finalto. The company called the latest sale “a significant step” in its strategic objective to simplify the group. Playtech sold Finalto to Gopher Investments in a deal worth $250 million.

“The sale of Finalto was completed in July 2022, representing a significant step in our stated strategy to simplify the Group and focus our efforts on the high-growth B2B and B2C gambling markets. We remain well placed to capitalize on the exciting market opportunities ahead, driving sustainable growth for the benefit of all our stakeholders. We have navigated significant disruption and uncertainty in the period due to well-reported geopolitical tensions and inflationary pressures,” Weizer added.

Source : FinanceMagnates

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