Playtech plc has published a trading update for the first four months of 2022 and also provides an update on the company’s ongoing corporate activity.
Trading Update
Since FY 2021 results were announced on 24 March 2022, Playtech has continued its excellent start to the current financial year with Adjusted EBITDA (unaudited) for the first three months of more than EUR100 million. This positive Q1 run rate has continued through April.
These results are reflected across both B2B and B2C businesses, with Snaitech seeing a positive drive through online business, retail recovery and favourable sports results.
B2B results have been encouraged through strong momentum from the Americas, especially with Caliplay in Mexico, as well as through wider B2B operations such as live casino.
The live casino business has also signed several new licensees and launched a range of new games.
In North America, Playtech has obtained new customers in the US and agreed terms on several new partnerships in Canada following the opening of the Ontario market.
Despite positivities, the effects of the pandemic as well as the war in Ukraine also add to potential uncertainties.
Corporate Activity
In terms of corporate activity, there has been positive progress made with the TTB investor group with regard to a possible offer for the company. Neither terms of the agreement nor a certainty of the deal completing can yet be assured.
And despite the current market conditions, Caliplay and Playtech are continuing to explore possible opportunities that would allow Caliplay to enter the US market on an accelerated basis.
In addition, the disposal of Finalto is still on track to complete in Q2 2022 with two of the four regulatory clearances having now been received.
Annual General Meeting
Playtech will hold its 2022 Annual General Meeting on Thursday 30 June 2022.
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