Playtech's revenue drops 4% in the first half of 2021

Playtech posted revenue of €457.4 million for the first half of this year, period ended June 30, 2021, down 4% from the same time last year.

Adjusted EBITDA grew 13% to €124.1 million, while adjusted profit after tax increased 1460% to €54.6 million. The Americas are now the main drivers of the company’s growth, with revenue growth of 106% compared to the first half of 2020.

Playtech noted that the results for the first half of 2021 were “in line with expectations at the beginning of the year”, with the online betting business offsetting the impact of the closures of retail establishments in Italy, which, according to the group, lasted longer than expected.

Playtech continues to grow in the US market

Highlights of the period included continued progress in the United States; launch with Parx in Michigan, and formation of new strategic partnerships with Scientific Games and Novomatic. In addition, other license applications are in progress.

And significant board changes have also occurred, with Brian Mattingley taking over as President on June 1st, Ian Penrose becoming Senior Director and Linda Marston-Weston appointed as Non-Executive Director effective October 1, 2021.

“I am very pleased with our strong strategic and operational progress so far into 2021, despite the ongoing challenges posed by the pandemic,” said Playtech CEO Mor Weizer.

Weizer added, “These results demonstrate the quality of our technology and products, the significant progress made against our strategic priorities, and a broader momentum in Playtech’s operations.”

Playtech’s CEO also carried out a long-term forecast: “Looking to the future, given the strong performance of the first half, the business dynamics and the relaxation of measures of social restrictions, we are confident in Playtech’s prospects for the remainder of 2021 and beyond.”