H1 2025: Playtech tracks ahead of expectations after strong half
Summary
Playtech says it is on track to exceed FY25 expectations after a strong first half. Adjusted EBITDA for the six months to June was €92m, in line with upgraded guidance, while revenue fell 10% year-on-year to €387m largely due to new commercial terms with Caliente Interactive. Excluding the Caliente impact, adjusted EBITDA rose 5% year-on-year. The company completed the sale of Snaitech and returned €1.8bn to shareholders as a special dividend.
Playtech reported robust growth in the US and Canada (revenue +64% year-on-year) following FY24 launches, entered West Virginia and is investing further in North America. The group sees significant opportunities in Latin America, notably Brazil, and is investing in the region with a new live studio in São Paulo. Live casino remains a core growth driver, with H1 revenue up 9% and over 300% in the US, helped by a partnership and studio presence with MGM Resorts. The board retains confidence in medium-term targets (adjusted EBITDA €250-300m; free cash flow €70-100m) and analysts have nudged up FY25/26 EBITDA forecasts.
Key Points
- Adjusted EBITDA: €92m for H1, matching upgraded August guidance.
- Revenue declined 10% year-on-year to €387m due to new Caliente commercial arrangements.
- Excluding Caliente impact, adjusted EBITDA increased 5% year-on-year.
- North American momentum: US & Canada revenue +64% year-on-year; expansion into West Virginia.
- Live casino is a major growth engine: H1 revenue +9% overall and +300% in the US; MGM partnership supports scale.
- Snaitech sale returned €1.8bn to shareholders; Playtech is reinvesting in LatAm, including a new São Paulo studio.
- Board confident on medium-term targets; Peel Hunt raised FY25/26 adjusted EBITDA estimates.
Context and relevance
This result matters for investors and iGaming professionals tracking supplier performance and regional expansion. Playtech’s transition to a pure-play B2B model after the Snaitech divestment, combined with strong live casino traction and North American growth, positions it well in regulated markets and emerging Latin American opportunities.
Why should I read this?
Short and sharp: Playtech isn’t just meeting guidance — it’s accelerating in the markets that count. If you follow gaming-tech suppliers, regional roll-outs or live casino revenue trends, this gives a quick read on why Playtech could be an industry mover over the next 12–24 months.
Author style
Punchy: Results send a clear signal that Playtech has shifted into growth mode where it matters most. Read the detail if you’re assessing market positioning or investment decisions.
Source
Source: https://next.io/news/results/h1-2025-playtech-tracks-ahead-expectations/
