Playtech details ‘positive progress’ in takeover talks amid ‘great’ first quarter

playtech reported positive progress on a trio of key transactions as the gaming group reflects on what is being hailed as a “great start to the current fiscal year.”

The “very good performance” would have been driven by both the B2B and B2C commercial division, with an adjusted EBITDA for the first quarter of 2022 which would have reached more than 100 million euros (H1 2021: 124.1 million euros ). It is added that the positive execution rate continued until April.

The first of the aforementioned segments would be due to strong momentum across the Americas, with Mexico Caliplay a key performer.

The group’s wider operations have also been hailed as welcoming “several new customers” in the United States and the Canadian province of Ontario, with the live casino providing a particular boost after “signing several new licensees and launched several new games.

Through B2C, Snaitech is reported to have maintained the momentum gained in the second half of 2021 into the current year, with what it described as a “great start” driven by its online business, the resumption of sales in detail and favorable sports results.

“The excellent start to the year gives the Board of Directors great confidence in the outlook for the 2022 financial year,” said a business update published by the group.

“As expected, the board remains cautious and focused given that we are at an early stage of the year, combined with the uncertain macroeconomic backdrop due to the pandemic and the war in Ukraine.

“The Board is also aware that there can be no certainty that the strength of the business so far will be repeated throughout the year.

“That said, the company’s performance to date and current business trends position the company very well and the board hopes to be able to update the market as we go. progress throughout the year.”

Elsewhere, “positive progress” was reported in discussion with TTB partners regarding a potential takeover bid for Playtech, following a first approach earlier in the year which saw Mor Weizerchief executive of Playtech, reveals his intentions to help the M&A suitor’s bid.

Furthermore, the company, alongside Calientealso continues to explore a possible transaction that would allow the duo’s Caliplay joint venture to enter the US market more quickly.

Finally, the transfer of Final is expected to remain nearing completion in the current quarter, with two of the four required regulatory clearances having been received.