Gambling software firm Playtech has disclosed its financial results for the fiscal year ending December 31, 2023, showcasing a 7% increase in revenue compared to the previous year. Its revenue reached €1.7 billion ($1.8 billion) on positive performances across both its business-to-business (B2B) and business-to-customer (B2C) operations.
Adjusted EBITDA also demonstrated growth, rising by 9% to €432.3 million.
In the B2B sector, revenue witnessed an 8% increase, with notable progress observed in the Americas, where revenues surged by 46%. This growth was fueled by strategic initiatives, including collaborations with various operators across multiple states and a landmark strategic agreement with Hard Rock Digital.
Meanwhile, the B2C segment experienced a 5% revenue uptick, supported by Snaitech’s maintenance of its market share position in Italian sports betting.
Playtech CEO Mor Weizer said: “As well as delivering excellent financial results, the group made important strategic and operational progress including our expansion across the US, opening a third Live Casino facility in Pennsylvania and taking the number of licenses granted to 11 with further applications pending.”
Looking ahead, Playtech aims to maintain its medium-term adjusted EBITDA targets of €200-250 million for B2B and €300-350 million for B2C. In addition to financial performance, Playtech has also focused on strategic partnerships and operational enhancements.
As for recent highlights, the company launched the iPoker tournament series The Elite Series Winter Edition in January 2024, achieving record-breaking participation. Further, Playtech extended its partnership with Totalizator Sportowy in Poland to strengthen its foothold in the Polish online gaming market.
Analysts have acknowledged Playtech’s progress in strategic and operational endeavors but remain cautious about potential revenue impacts from unresolved legal disputes. With the upcoming trial regarding the Caliplay dispute in October, all eyes will be on Playtech’s ability to mitigate risks and sustain its growth trajectory in the gaming landscape.
Original article: https://www.yogonet.com/international/noticias/2024/03/28/71480-playtech-unveils-7-revenue-growth-in-fiscal-year-2023
