Playtech Revenue Drops 4% in H1 2021
Playtech, a leading gambling technology company, has reported revenue of €457.4 million for the six months ending 30 June 2021, a decline of 4% from the same period last year.
However, adjusted Earnings before Interest, Taxes, Depreciation, and Amortization (EBITDA) were up 13% to €124.1 million, and adjusted post-tax profit was up 1460% to €54.6 million. The Americas is now the biggest source of growth for Playtech, with revenue growth of 106% at constant currency compared to H1 last year.
Playtech said that this year’s results were “in line with expectations at the start of the year”. Its online strength compensated for the impact of retail closures in Italy, which the company said lasted longer than expected.
It was an eventful half year for Playtech, with the company making significant progress in the US by going live with Parx in Michigan as well as the formation of new partnerships with Scientific Games and NOVOMATIC. Playtech is also in the process of applying for additional licenses.
There were also a number of changes to Playtech’s board. Brian Mattingley joined as chairman at the start of June while Ian Penrose became Senior Independent Director and Linda Marston-Weston was appointed as Non-Executive Director, effective 1 October 2021.
I am delighted by our strong strategic and operational progress to date in 2021, despite the ongoing challenges posed by the pandemic. These results demonstrate the quality of our technology and products, the significant progress made against our strategic priorities, and wider momentum across Playtech’s operations.
Weizer also spoke about Playtech’s future, saying that the board remains confident in regard to the company’s prospects given the “strong H1 performance, the momentum in the business and the easing of lockdown restrictions”.
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