Playtech Regulatory News (PTEC)

Playtech plc

("Playtech" or the "Company")

AGM trading update

Solid start to 2025; continued progress against strategic objectives

Playtech plc (LSE: PTEC) is pleased to report on trading for the period from 1 January 2025 to 30 April 2025.

Overview

Playtech delivered a solid performance over the first four months of the year, with trading in line with expectations. The Company has also made good progress against its strategic objectives as it transitions to a predominantly pure-play B2B business.

Trading

Software fees from Caliplay continue to see strong growth. As previously flagged, the revised strategic agreement with Caliplay came into effect on 31 March 2025. Playtech is now entitled to receive dividends as a 30.8% equity holder, although is no longer entitled to receive the additional B2B services fees since that date.

The US continues to see very strong revenue growth across Live, Casino and Platform, as launches with major operators in 2024 translate into revenue. Playtech continues to see significant demand for its products in the Americas, in particular Live, and will continue to invest to meet this demand.

Live remains a key driver of performance, delivering healthy growth in the period, while the higher margin, less capital-intensive SaaS business showed continued momentum with very strong revenue growth across multiple operators and geographies.

We have seen initial headwinds, as previously flagged, following new regulations in Latam markets, with Brazil impacted by the transition to a regulated market, and Colombia introducing a temporary VAT charge. We remain positive about the opportunities these markets present to our business.

Corporate activity

Snaitech sale

As previously announced, the €2.3 billion sale of the Snaitech business to Flutter Entertainment plc group occurred on 30 April 2025, with approximately €1.8 billion of the sale proceeds to be paid out to shareholders as a special dividend on 12 June 2025.

HAPPYBET

Progress continues to be made on the sale process for the remaining German HAPPYBET business. The Company will provide an update in due course.

Balance sheet

On 2 May 2025, Playtech served notice to redeem at par, on 2 June 2025, the remaining €150 million of the €350 million senior secured notes, which were otherwise due to mature in March 2026, strengthening the balance sheet of the Playtech business going forward.

Board change

In line with the announcement on 16 April 2025, John Gleasure will assume the role of Chairman after today's AGM, replacing Brian Mattingley, who will step down as Chair and from the Board.

Mor Weizer, CEO, said: "It has been a busy start to the year for Playtech as we transition to a predominantly pure-play B2B business. With the sale of Snaitech now completed, we have significantly strengthened our balance sheet and will return approximately €1.8 billion to shareholders as a special dividend.

Our core B2B business has delivered a solid performance in the first four months of the year, with a standout performance in the US. Given the strategic and operational progress being made across the business, we remain confident in Playtech's ability to execute on the exciting growth opportunities over the medium term."

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About Playtech 

Founded in 1999 and with a listing on the Main Market of the London Stock Exchange, Playtech is a technology leader in the gambling industry with over 7,300 employees across 19 countries.

Playtech is the gambling industry's leading technology company delivering business intelligence driven gambling software, services, content and platform technology across the industry's most popular product verticals, including, casino, live casino, sports betting, bingo and poker. It is the pioneer of omni-channel gambling technology through its integrated platform technology, Playtech ONE. Playtech ONE delivers data driven marketing expertise, single wallet functionality, CRM and responsible gambling solutions across one single platform across product verticals and across retail and online.

Playtech partners with and invests in the leading brands in regulated and newly regulated markets to deliver its data-driven gambling technology across the online and retail value chain. Playtech provides its technology on a B2B basis to the industry's leading online and retail operators, land-based casino groups and government sponsored entities such as lotteries.