Home Gambling Industry Playtech FY22 bolstered by B2B segment in regulated markets

Playtech FY22 bolstered by B2B segment in regulated markets

3 min. read
Playtech results.

Playtech posted the results for the financial year 2022, seeing key performance markers soar. Overall, the financial year was bolstered by excellent gains in the regulated B2B markets, and B2C operations, driven by Snaitech, a gambling and sports betting platform based in Milan, Italy. Playtech posted a record adjusted EBITDA of €405.6m ($438m) which was up on 2021 results by 28%.

Despite the broader macroeconomic and geopolitical challenges, the company has reported a strong start to 2023 as well. In terms of specific performance, Playtech had much insight to offer. The company also signed an important partnership with Hard Rock Digital in Q1 2023, which is now going to give Playtech a significant boost in the US market and overall North American acceleration.

As to the financial year results, the company performed very well within regulated markets, with the B2B revenue hitting €632.4m ($685m) in 2022, up 14%. There was a noticeable increase in Europe ex-UK which soared by 31% and reached €184.6m ($199.96m), with markets such as the Netherlands, Ireland, Spain, and Poland proving huge contributors in the matters. The Americas performed strongly as well, adding another €144.7m ($156.7m), up 27%, to the overall results.

Caliente in Mexico was one of the biggest contributors for the company in the region and Playtech hailed the growth and performance in the Brazilian market. In terms of the company’s United States pivot, there have been a number of important milestones achieved in the market as well. Playtech realized a partnership with Hard Rock Digital, as already mentioned.

Notably, Playtech signed deals with Resorts, 888, Golden Nugget, and Wynn BET, shaping up a very strong local profile in the regulated gambling market in the United States. The company further launched its IMS platform with Parx Casino, Pennsylvania. Beyond the border, Playtech also rolled out with NorthStar in Ontario, Canada. Playtech also used this opportunity to invest in the company.

The company performed well in the live casino vertical, which continues to grow despite very strong competition in the vertical. Meanwhile, B2C gambling also performed well. The total revenue grew 48% on year-over-year terms to €983.1m ($1bn) with this business arm outperforming the B2B division.

Snaitech posted adjusted EBITDA of €254.2m ($275.3m), or up 39%. The company, i.e. Snaitech, also remained the leading sports betting company in Italy, in both the retail and online segments. Not least, there was the Sun Bingo White Label, which marked another 5% revenue gain to €65.3m ($70.7m).

Image credit: Unsplash.com

24 Mar 2023
3 min. read
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