Playtech has delivered an impressive performance in the first half of 2024, reporting an 11% growth in adjusted EBITDA to €243 million. This surge was primarily driven by the company’s thriving B2B business, which contributed significantly to the overall financial results. Furthermore, the sale of Playtech’s Italian sports betting subsidiary, Snaitech, to Flutter Entertainment for €2.3 billion stands as a major strategic move in the company’s plan to focus on its core B2B operations.
For the period ending June 30, 2024, Playtech’s total revenue increased by 5% year-on-year to €906.8 million. The B2B division played a central role in this growth, with revenue jumping by 14% to €382.2 million. This rise was fueled by strong performances across various regions, especially in the Americas, where revenue shot up by 42%. Key partnerships, including those with Caliplay, Wplay in Colombia, and Parx in the US, significantly boosted results in this market.
Playtech’s CEO, Mor Weizer, expressed confidence in the company’s growth trajectory, stating, “We’ve executed our strategy to grow and improve the B2B business, delivering broad-based growth with strong contributions across our key markets.”
While the B2B sector thrived, Playtech’s B2C division remained stable, reporting flat revenue of €532.4 million. The Italian brand Snaitech, although maintaining its market position, saw a 1% decline in revenue to €483.6 million due to customer-friendly sporting results earlier in the year. Despite this dip, Snaitech continued to perform solidly, underscoring the strength of Playtech’s broader operations.
