Playtech expects 2023 outcome to top consensus after strong start

(Alliance News) - Playtech PLC on Wednesday said it expects its 2023 outturn to top consensus, despite cautioning that growth will moderate as the year progresses.

The gambling software firm said both its business-to-consumer and business-to-business arms performed "very well" in the first four months of the 2023.

Its B2C arm, which includes the Snaitech betting brand, was boosted by the resumption of football following the World Cup, as well as "pent-up demand".

In B2B, Playtech also "performed very well" in the first four months of the year.

"The company extended its market-leading presence in Latin America, with Caliente continuing to demonstrate strong growth, building on its leadership position in Mexico," the FTSE 250 listing said.

Playtech now expects its adjusted earnings before interest, tax, depreciation, and amortisation to top current consensus for 2023.

Playtech shares traded 2.2% lower at 612.50 pence each in London on Wednesday morning.

By Eric Cunha, Alliance News news editor

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