1st Aug 2025 10:48
(Alliance News) - Playtech PLC on Friday reported "strong performance" in the second quarter, with contributions from associate firms ahead of expectations, but kept earnings guidance lower on-year.
The Douglas, Isle of Man-based gambling software operator expects adjusted earnings before interest, tax, depreciation and amortisation to be at least EUR90 million for the six months to June 30. In the first half of 2024, adjusted Ebitda came to GBP243.0 million.
The company said this year's figure will include operating losses from its Happybet business, as well as income from associates, but will exclude Snaitech Spa, which Playtech sold to Flutter Entertainment for EUR2.30 billion back in April.
Alongside an improvement in B2B trading, Playtech noted a better-than-expected income contribution from associates. Specifically, Caliente Interactive benefitted from "favourable" sporting results in the second quarter, paying its first dividend under a revised deal with Playtech.
Playtech also plans to raise investment in the US and Brazil during the second half of 2025, whilst remaining "mindful of headwinds in Brazil and Colombia".
The company added: "Given the exciting growth opportunities ahead, the board remains very confident in Playtech's ability to execute on its strategy as a predominantly pure-play B2B business."
Playtech will release its half-year results on September 11.
The firm's shares were up 2.0% at 405.75 pence on Friday morning in London, though the stock has fallen 28% over the past 12 months.
By Holly Munks, Alliance News reporter
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