Playtech PLC, a leading provider in the online gambling industry, announced its interim results for the six months ended June 30, 2025. The company reported a strong performance, with key highlights including
**Financial Performance**Despite a 10% decline in reported revenue to €387.0 million, adjusted EBITDA remained robust at €91.6 million, in line with upgraded expectations. The decline in revenue was primarily due to the revised Caliente Interactive agreement and the transition to a B2B-focused business model.
**Strategic Progress**Playtech made significant strides in its core markets, particularly in the Americas. The company expanded its presence in the U.S. with entry into West Virginia, its fourth regulated iGaming state, and continued to invest in its U.S. operations, increasing headcount to over 500.
**Balance Sheet Strength**The companys balance sheet remained strong, with a net cash position of €77.1 million as of June 30, 2025. This was supported by the completion of the Snaitech sale, which generated approximately €1.8 billion in proceeds distributed to shareholders as a special dividend.
**Divisional Performance**
**B2B**B2B revenues declined by 9% to €347.6 million, primarily due to the revised Caliente Interactive agreement. Excluding this impact, B2B revenues grew by 3%, driven by strong performance in the U.S. and other key markets.
**Investment Income**Adjusted investment income increased significantly to €19.8 million, primarily due to the recognition of income from Caliente Interactive under the revised agreement.
**B2C**B2C revenues declined to €41.0 million, with adjusted EBITDA losses narrowing to €1.5 million, reflecting ongoing rationalization efforts.
**Outlook**Playtech is on track to deliver FY 2025 adjusted EBITDA ahead of expectations, with plans to increase investment in growth markets like the U.S. and Brazil. The company remains confident in achieving its medium-term targets, including an adjusted EBITDA range of €250 million to €300 million.
**Corporate Activity**The sale of Snaitech to Flutter Entertainment was completed in April 2025, and the revised Caliente Interactive agreement came into effect in March 2025. John Gleasure assumed the role of Non-executive Chairman of the Board in May 2025.
Overall, Playtechs H1 2025 results reflect a strong start to its transition to a predominantly B2B business, with strategic progress, financial resilience, and a positive outlook for future growth.