REG - Playtech PLC - AGM Trading Update

PlaytechAnnouncement

22/05/2024 07:00

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RNS Number : 3676P  Playtech PLC  22 May 2024

Playtech plc

('Playtech' or the 'Company')

AGM trading update

Continued progress on strategic initiatives

Playtech plc (LSE: PTEC) is pleased to report on trading for the period from 1
January 2024 to 30 April 2024.

Overview

Playtech delivered a solid trading performance during the period with strong
underlying trends, partly offset by the impact of customer-friendly sporting
results.

Divisional review

B2B

Playtech's B2B division performed well during the first four months of 2024,
driven by a combination of revenue growth in regulated markets and benefits
from tighter cost control.

Growth in regulated markets was led by the Americas with the US and Canada
increasing their contribution, albeit from a small base, while Mexico and
Colombia continue to perform well.

Live continues to take advantage of the market's rapid expansion, delivering
solid growth in the period, while Casino is also showing strength. The higher
margin, less capital-intensive SaaS business showed continued momentum with
strong revenue growth, further launches and new customer signings.

B2C

Snaitech performed well on an underlying basis, with wagers showing strength
across both the online and retail betting segments. This was achieved despite
tough comparatives in 2023, which benefitted from pent-up demand post the
football World Cup.

As has been well-flagged by industry peers, strong volumes have been partly
offset by customer-friendly sporting results in Italy. Notwithstanding this,
we remain well-positioned to continue to benefit from the structural shift to
the higher-margin online business in Italy.

Caliplay update

Caliplay remains a highly important customer and Playtech continues to
maintain an open dialogue with Caliplay to discuss a path forward, although
fees owed to Playtech remain uncollected. While the Company believes it has
visibility over substantially all of the revenue generated by Caliplay's
business, and as such, can confirm that Caliplay continues to perform
strongly, Playtech has been unable to obtain full financial information from
Caliplay during the period. As a result, the revenue generated from the
additional B2B services element of the agreement is partly based on an
estimation, which takes account of prior trends and information provided.

Board change

As previously announced on 25 April 2024, Doreen Tan will join the Board as an
Independent Non-executive Director on 9 July 2024, bringing a wealth of
experience over a career spanning more than 30 years, gained at some of the
world's leading financial institutions.

Summary

Given the strategic progress being made across the business, the Board remains
confident in Playtech's ability to execute on the exciting growth
opportunities across both B2B and B2C divisions over the medium term.

- ENDS -

 

For further information please contact:

 

 Playtech plc                                +44 (0) 20 3805 4822
 Sandeep Gandhi, Head of Investor Relations
 Headland (PR adviser to Playtech)           +44 (0) 20 3805 4822
 Lucy Legh, Jack Gault

 

About Playtech

Founded in 1999 and premium listed on the Main Market of the London Stock
Exchange, Playtech is a technology leader in the gambling industry with over
7,700 employees across 19 countries.

 

Playtech is the gambling industry's leading technology company delivering
business intelligence driven gambling software, services, content and platform
technology across the industry's most popular product verticals, including,
casino, live casino, sports betting, virtual sports, bingo and poker. It is
the pioneer of omni-channel gambling technology through its integrated
platform technology, Playtech ONE. Playtech ONE delivers data driven marketing
expertise, single wallet functionality, CRM and responsible gambling solutions
across one single platform across product verticals and across retail and
online.

 

Playtech partners with and invests in the leading brands in regulated and
newly regulated markets to deliver its data driven gambling technology across
the retail and online value chain. Playtech provides its technology on a B2B
basis to the industry's leading retail and online operators, land-based casino
groups and government sponsored entities such as lotteries. Playtech directly
owns and operates Snaitech, the leading sports betting and gaming company in
online and retail in Italy.

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