Playtech Regulatory News (PTEC)

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF THAT JURISDICTION.

THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED BY THE COMPANY TO CONSTITUTE INSIDE INFORMATION AS STIPULATED UNDER THE UK VERSION OF THE MARKET ABUSE REGULATION (EU) NO. 596/2014 AS IT FORMS PART OF UK LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018. WITH THE PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.

FOR IMMEDIATE RELEASE

14 July 2022

Playtech plc

("Playtech" or "the Company")

Response to TTB no intention to bid statement

H1 2022 adjusted EBITDA expected to be more than €200m

Playtech notes the announcement released on 14 July 2022 by TTB Partners Limited ("TTB") under Rule 2.8 of the City Code on Takeovers and Mergers (the "Code") that it does not intend to make an offer for the Company due to challenging underlying market conditions. The Board of Directors (the "Board") notes that TTB continues to be supportive of the Board and the executive management team, their strategy for Playtech and the prospects for the business.

The Board remains very confident about the positive long term prospects for the Group. This is also evidenced in the recent trading performance across both its core B2B and B2C businesses.

Playtech had an excellent H1 2022 with Adjusted EBITDA expected to be more than €200 million. The performance was driven by both the B2B and B2C businesses. The B2B performance has been driven by very strong momentum from the Americas, in addition to a strong performance across the wider B2B operations, including Live Casino. Snaitech had an excellent first half driven by its online business, retail recovery and favourable sports results.

The excellent first half results and momentum in the business gives the Board great confidence in the Company's prospects for FY 2022 and beyond, and the Company's ability to deliver material value to its shareholders. Additionally, the Board continues to consider options to maximise shareholder value.

On 11 July, Playtech completed the all-cash sale of Finalto, representing a significant step in simplifying the Company. Playtech is using the majority of the proceeds to repay its revolving credit facility.

Mor Weizer, CEO of Playtech said, "Playtech carries strong momentum going into H2 2022 and continues to perform very well across its core B2B and B2C businesses. This performance reflects the quality of our market-leading technology offering and the hard work and commitment of our talented team. We remain confident in our long-term growth prospects and, in particular, our ability to benefit from the structured agreements that are already allowing Playtech to access newly opened gambling markets."

Brian Mattingley, Chairman of Playtech said, "This process has shone a spotlight on the fundamental premium value of Playtech's businesses and the Board will continue to consider options to maximise value for all shareholders. Playtech is the leading technology company in the gambling industry, with an unrivalled quality and breadth of products. The Group's B2B business continues to go from strength to strength while Snai is the number one sports brand across retail and online betting in the Italian market. We are confident that we have the right strategy and the right team in place to build on this strong start to the year and deliver for all our stakeholders."

This announcement has been made with the prior consent of TTB.

As a result of TTB's Rule 2.8 announcement, Playtech is no longer in an offer period as defined by the Code.

The person responsible for making this announcement is Chris McGinnis, Director of Investor Relations & Strategic Analysis.

Enquiries:

Playtech

Chris McGinnis, Director of Investor Relations & Strategic Analysis

+44 (0)16 2464 5954

Wells Fargo Securities (Lead Financial Adviser and Rule 3 Adviser to Playtech)

Brian Maier, Vice Chairman

Sam Small

Chris Tucker

+44 (0)20 3942 9625

Goodbody (Financial Adviser and Joint Broker to Playtech)

Piers Coombs

Charlotte Craigie

Stephen Kane

+353 1 667 0400

Jefferies International Limited (Financial Adviser and Joint Broker to Playtech)

Tim Lloyd Hughes

Max Jones

Philip Noblet

James Thomlinson

+44 (0)20 7029 8000

Headland (PR Adviser to Playtech)

Lucy Legh

Stephen Malthouse

Tom James

Jack Gault

+44 (0)20 3805 4822

Playtech@headlandconsultancy.com

Important Notice

This announcement is not intended to, and does not, constitute or form part of any offer, invitation or solicitation of any offer to purchase, otherwise acquire, subscribe for, sell or otherwise dispose of, any securities or the solicitation of any vote or approval in any jurisdiction, whether pursuant to this announcement or otherwise.

The release, distribution or publication of this announcement in jurisdictions outside the United Kingdom may be restricted by laws of the relevant jurisdictions and therefore persons into whose possession this announcement comes should inform themselves about, and observe, any such restrictions. Any failure to comply with the restrictions may constitute a violation of the securities law of any such jurisdiction.

Notices Related to the Financial Advisers

Wells Fargo Securities International Limited, a subsidiary of Wells Fargo & Company trading as "Wells Fargo Securities", is authorised and regulated by the Financial Conduct Authority ("FCA") in the United Kingdom. Wells Fargo Securities is acting exclusively as financial adviser to Playtech and will not be responsible to anyone other than Playtech for providing the protections afforded to its client, or for providing advice in relation to the matters set out in this announcement.

Goodbody Stockbrokers UC is authorised and regulated by the Central Bank of Ireland and is also subject to regulation by the FCA. Goodbody Stockbrokers UC are acting exclusively for the Company and will not be responsible to any person other than the Company for providing the protections afforded to their clients or for providing advice in relation to the contents of this document.

Jefferies International Limited, which is authorised and regulated in the UK by the Financial Conduct Authority, is acting exclusively for Playtech and no one else in connection with the Acquisition and shall not be responsible to anyone other than Playtech for providing the protections afforded to clients of Jefferies International Limited, nor for providing advice in connection with the Acquisition or any matter referred to herein. Neither Jefferies International Limited nor any of its subsidiaries, affiliates or branches owes or accepts any duty, liability or responsibility whatsoever (whether direct, indirect, consequential, whether in contract, in tort, under statute or otherwise) to any person who is not a client of Jefferies International Limited in connection with the Acquisition, this announcement, any statement contained herein or otherwise.

Publication of this Announcement

In accordance with Rule 26.1 of the Code, a copy of this announcement will be made available on the Company's website (www.Playtech.com) by no later than 12 noon (London time) on 15 July 2022. The content of the website referred to in this announcement is not incorporated into and does not form part of this announcement.