Playtech beats expectations as U.S. casino deals boost growth

Playtech beats expectations as U.S. casino deals boost growth

Article brief provided by City A.M.
  • Guy Taylor, City A.M.
March 27, 2024 8:36 PM
  • Guy Taylor, City A.M.

Gambling software firm Playtech’s full-year earnings came in ahead of market expectations as a string of prior deals with US casinos helped drive growth.

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Adjusted earnings before interest, taxation, depreciation and amortisation (EBITDA) came in at €432.3m [$467.5m], a nine per cent rise year-on-year and ahead of already bumped-up guidance.

Adjusted post-tax profit fell two per cent to €156.8m [$169.6m] as the London-listed firm netted €1.7bn [$1.8bn] in revenue.

The Americas proved the biggest driver of growth, with revenue up 46 per cent to €211.9m [$229.2m]. Playtech noted the opening of a a third US live casino in Pennsylvania, taking its tally in the country to 11 and with further applications pending.