Playtech plc
('Playtech' or the 'Company')
Excellent start to 2022 continues
Playtech plc ("Playtech") is pleased to report on trading for the first four months of 2022 and also provide an update on the Company's ongoing corporate activity.
Trading update
Since FY 2021 results were announced on 24 March 2022, Playtech has continued its excellent start to the current financial year with Adjusted EBITDA (unaudited) for the first three months of more than €100 million. This positive Q1 run rate has continued through April.
The very strong performance has been driven by both the B2B and B2C businesses. Snaitech has seen the same trends continue from H2 2021, with an excellent start to the year driven by its online business, retail recovery and favourable sports results. B2B performance has been driven by very strong momentum from the Americas, in particular Caliplay in Mexico, in addition to a strong performance across the wider B2B operations, including Live Casino. The Live Casino business has also signed several new licensees and launched several new games. In North America, Playtech has signed multiple new customers in the US and launched several new partnerships in Canada following the opening of the Ontario market.
The excellent start to the year gives the Board great confidence in the prospects for FY 2022. As would be expected, the Board remains cautious and focussed given that we are at an early stage in the year, combined with the uncertain macro backdrop due to the pandemic and the war in the Ukraine. The Board is also conscious there cannot be any certainty that the strength across the business so far will be repeated throughout the remainder of the year. That said, the Company's performance to date and current trends in the business positions the Company very well and the Board would hope to be able to update the market further as we progress through the year.
Corporate activity
There has been some positive progress in discussions with the TTB investor group regarding its potential offer for the Company. However, there can be no certainty as to whether an offer for the Company will be announced, or the terms on which any offer might be made.
Although capital market conditions are currently challenging, Caliplay and Playtech continue to explore a possible transaction which would allow Caliplay to enter the U.S. market on an accelerated basis.
The disposal of Finalto remains on track to complete in Q2 2022 with two of the four required regulatory clearances having now been received.
Annual General Meeting
Playtech will hold its 2022 Annual General Meeting on Thursday 30 June 2022.
- Ends -
For further information please contact:
| Playtech plc
Chris McGinnis, Director of Investor Relations & Strategic Analysis
| +44 (0) 1624 645 954 |
| | |
| Headland (PR adviser to Playtech)
Lucy Legh, Stephen Malthouse | +44 (0) 20 3805 4822 |
| |
About Playtech
Founded in 1999 and premium listed on the Main Market of the London Stock Exchange, Playtech is a market leader in the gambling and financial trading industries with c.6,600 employees across 26 countries.
Playtech is the gambling industry's leading technology company delivering business intelligence driven gambling software, services, content and platform technology across the industry's most popular product verticals, including, casino, live casino, sports betting, virtual sports, bingo and poker. It is the pioneer of omni-channel gambling technology through its integrated platform technology, Playtech ONE. Playtech ONE delivers data driven marketing expertise, single wallet functionality, CRM and responsible gambling solutions across one single platform across product verticals and across retail and online.
Playtech partners with and invests in the leading brands in regulated and newly regulated markets to deliver its data driven gambling technology across the retail and online value chain. Playtech provides its technology on a B2B basis to the industry's leading retail and online operators, land-based casino groups and government sponsored entities such as lotteries. Playtech directly owns and operates Snaitech, the leading sports betting and gaming company in online and retail in Italy,
Playtech's Financials Division, Finalto, is a technology leader in the CFD and financial trading industry and operates both on a B2B and B2C basis.
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