New-look Playtech expects adjusted EBITDA to reach €90 million in H1

New-look Playtech expects adjusted EBITDA to reach €90 million in H1

Summary

Playtech has forecast at least €90 million in adjusted EBITDA for the first half of its 2025 financial year, substantially lower than the €243 million reported in H1 2024. The decline reflects significant disposals during the period — notably Snaitech and HappyBet — as the company repositions itself as a pure-play B2B supplier.

The trading update points to continued momentum across Playtech’s B2B business and a stronger-than-expected contribution from income from associates, driven by favourable sporting results at Mexican partner Caliente Interactive. Under a revised strategic agreement Playtech now holds a 30.8% stake in the Caliente venture and is receiving dividends, although it will no longer receive additional B2B service fees.

The forecast figure excludes Snaitech contributions (sold to Flutter for around €2.3 billion) and includes the operating loss from HappyBet, which was sold to NetX Betting. Playtech says the simplified, B2B-focused model will allow it to improve technology, grow customers and increase share of wallet. Management plans increased investment in the US and Brazil but remains cautious about regulatory and VAT headwinds in Brazil and Colombia. Full H1 results are due on 11 September.

Source

Source: https://igamingbusiness.com/finance/half-year-results/playtech-adjusted-ebitda-h1/

Key Points

• • Playtech forecasts at least €90m adjusted EBITDA in H1 2025, down from €243m in H1 2024.
• • The drop is driven by the sales of Snaitech and HappyBet as Playtech shifts to a pure-play B2B strategy.
• • Snaitech was sold to Flutter for approximately €2.3bn; HappyBet was sold to NetX Betting (Pferdewetten AG subsidiary).
• • Playtech now holds a 30.8% equity stake in the Caliente/Caliplay venture and is receiving dividends, but will no longer receive B2B service fees.
• • Income from associates was better-than-expected after favourable sporting results at Caliente in Q2.
• • The group plans increased investment in the US and Brazil while remaining mindful of regulatory and VAT headwinds in Brazil and Colombia.
• • Full H1 results are scheduled for 11 September 2025.

Why should I read this?

Because Playtech has ripped up its old playbook and sold major B2C assets — that changes where growth and risk now sit. If you track gaming suppliers, operators or investment flows in regulated markets, this update tells you what to expect next. We’ve skimmed the detail so you get the headlines and what they actually mean, quickly.

Context and relevance

The disposal of sizeable assets and the move to a simpler B2B model are material for competitors, customers and investors. The Snaitech sale provides substantial cash, the Caliente dividend creates a new income stream, and management’s focus on the US and Brazil signals the markets where Playtech expects growth. Regulatory shifts in Brazil and Colombia remain important risks to monitor.