Progress on the TTB offer but not yet certainty
Playtech has released a business update that suggests a positive start to 2022, with adjusted EBITDA for the first three months over €100 million ($105.9 million).
This race continued from the first quarter to the month of April. These results are reflected in both B2B and B2C businesses, with Snaitech seeing positive momentum through online business, retail recovery and favorable sports results.
B2B results were driven by strong momentum in the Americas, particularly with Caliplay in Mexico, as well as broader B2B operations such as live casino.
The live casino industry also signed several new licensees and launched a range of new games.
In North America, Playtech won new customers in the United States and agreed on the terms of several new partnerships in Canada following the opening of the Ontario market.
Despite the positives, the effects of the pandemic as well as the war in Ukraine also add to potential uncertainties.
In terms of corporate activity, positive progress has been made with the group of investors TTB with a view to a possible offer for the company. Neither the terms of the agreement nor the certainty of the conclusion of the agreement can yet be assured.
And despite current market conditions, Caliplay and Playtech continue to explore possible opportunities that would allow Caliplay to enter the US market on an accelerated basis.
Additionally, the Finalto divestment remains on track to complete in the second quarter of 2022, with two of the four regulatory clearances now having been received.
An annual general meeting will be held on Thursday, June 30, 2022.