Here is a summary of the trading update from Playtech PLC
Playtech PLC, a leading platform, content, and services provider in the online gambling industry, released a trading update for the first half of the fiscal year 2024 (January 1, 2024 - June 30, 2024).
The company expects its 2024 Adjusted EBITDA to be slightly <mark style="background-color:yellow">ahead</mark> of consensus expectations, primarily due to the strong performance of its B2B division.
The B2B division performed well in the first half, driven by revenue growth in the Americas and tighter cost control. Playtech also reached a revised strategic agreement with Caliplay, which has performed strongly.
The US, Canada, and Colombia contributed to the divisions success.
Snaitech, the companys B2C division, experienced underlying growth in wagers but was impacted by customer-friendly sporting results in Italy.
Playtech is in discussions with Flutter regarding the potential sale of Snaitech, but there is no certainty about the outcome.
The company will release its interim H1 2024 results on September 30, 2024, and will provide an in-person presentation and audio webcast.
Playtech is a technology leader in the gambling industry, with a presence in multiple countries and partnerships with leading brands. It offers an integrated platform, Playtech ONE, which enables omni-channel gambling and provides data-driven marketing, CRM, and responsible gambling solutions.