Playtech stresses importance of LatAm despite revenue drop in H1

Playtech’s revenue was down 10 per cent in H1.

UK.- The gaming tech provider Playtech has reported a 10 per cent drop in H1 revenue year-over-year to €387m. The downturn was mainly because of changes in its partnership with Mexico-focused Caliente on the Caliplay joint venture. A revised agreement with Caliente eliminated a B2B services fee, which led to a 9 per cent drop in B2B revenue to €347.6m.

Revenue from Latin America was down 32 per cent as a result. However, Playtech CEO Mor Weizer insisted that Caliplay remained an important asset and that the new agreement “set both parties up for continued success.”

For H2, Playtech has reaffirmed its full-year adjusted EBITDA guidance of €250–€300m and plans to ramp up investment in the US and Brazil.

In H1, UK revenue also fell, down 3 per cent to €64.2m after one operator left Playtech to take its betting terminal operations in house. In Europe, revenue was up by 4 per cent to €102m, with growth in Poland, Spain and Switzerland. Revenue in the rest of the world was up 27 per cent to €6.6m, while North America revenue leaped 64 per cent to €21.8m amid expanded partnerships and new launches with DraftKings, FanDuel and Delaware North.

Playtech is moving entirely towards B2B operations after selling Italy-facing Snaitech to Flutter Entertainment. It’s also sold HappyBet to NetX Betting, a subsidiary of Pferdewetten AG.

B2C revenue was down 17 per cent to €41m, with most coming from Sun Bingo and other B2C operations. Playtech cited reduced player activity because of regulatory changes in the UK, including stricter affordability checks, as the reason.

EBITDA was down sharply to €12.9 million, and the company reported a pre-tax loss of €58.8m and a post-tax loss from continuing operations of €78.1m. Net profit including the Snaitech sale was €1.58bn, and adjusted net profit excluding the sale €93.1m, up slightly from €92.3m in H1 2024.