Playtech announces 33% increase in total revenue for 2022
Playtech announces 33% increase in total revenue for 2022

Playtech reported €1.6 billion ($1.7 billion) in total revenue for 2022, up 33% year-on-year. With adjusted EBITDA, the company’s total revenue in 2022 was €405.6 million, compared to €317.1 million in 2021.

The company closed several deals as part of its US strategy. This included launching the IMS platform in Pennsylvania, as well as partnering with Golden Nugget, WunnBet, Resorts and 888.

Playtech also had licenses granted for the states of Pennsylvania and Colorado in 2022. The arrival in Ontario, Canada was facilitated by the launch of NorthStar and a new facility opened in Peru.

Overall, revenue growth in the Americas was 43%. The increase in figures in Europe excluding the UK was 31%, with the Netherlands leading in contributions. Poland, Spain and Ireland were also significant factors in the €184.6 million total.

Mor Weizer, CEO of Playtech, said: “2022 was a year of considerable strength for Playtech, in which we delivered record revenues and EBITDA, above market expectations.”

“All parts of the business contributed to this performance, with B2B driven by Europe (ex-UK) and the Americas, and the impressive B2C performance underpinned by Snaitech’s continued strength in the Italian market, both retail and online,” added.

Including Snaitech’s operations, total B2C revenue was €983.1 million, compared to €663.7 million in 2021. Snaitech exceeded business expectations with an adjusted EBITDA margin of 56% in 2022.

Playtech target for 2023

Playtech announced a medium-term target of €250m for B2B in 2023, with Snaitech’s medium-term target around €350m. Additionally, the company kicked off 2023 by signing a deal with Hard Rock Digital.