Playtech Reports Exceptional Revenue Growth as B2B Segment Shines
Playtech, the London-listed gambling software developer, reported revenue of €1.21 billion for the twelve months to December 2021, up 12% from 1, 07 billion euros accumulated during the same period in 2020.
The strong performance was driven by B2B online growth, particularly in Latin America and at Snaitech. Underscoring its success, Playtech said revenue growth more than offset the hurdles encountered as a result of the COVID-19 pandemic. In particular, the B2B gambling segment grew by 11% to 554.3 million euros against 494.8 million euros a year earlier.
The Americas has proven to be Playtech’s greatest achievement, it says in a statement to shareholders. The company’s sports betting and B2B retail subsidiary, Snaitech, performed well in the region with revenue growth of 94% to €101.3 million.
Meanwhile, Playtech said its adjusted EBITDA was €317 million, a 25% year-over-year increase from €253 million in 2020.
Commenting on the results, Managing Director Mor Weizer said: “Our full year results demonstrate the quality of Playtech’s technology and momentum across the group. Our strong performance is underpinned by our B2B businesses, in particular the tremendous growth we have seen in the Americas. In B2C, the story is similar, with Snaitech continuing to outperform the market, securing the number one brand position in sports betting and retail in Italy.
Playtech accelerates its growth in the American market
During the year, Playtech refocused the business, with the sale of Casual and Social Gaming in January and the divestiture of Finalto expected to be completed later this year.
The gaming technology company has also laid the foundation for its US business to become one of its key growth drivers by doubling its revenue in the region.
Playtech announced new deals that saw the brand expand its US presence to include live casino studios in New Jersey and Michigan. The company launched its Michigan studio in collaboration with Parx Interactive through its Play Gun Lake brand. Additionally, Playtech’s studio in New Jersey is now available to operators through an agreement with Bet365.
There have been frantic deals in the gambling industry since the US Supreme Court legalized sports betting as companies seek to exploit the expertise of online gambling software providers operating in larger markets. developed such as the UK. It was also one of the main drivers of the Playtech takeover battle, which escalated.