Playtech expects B2B and Snaitech growth drive earnings up in FY22

In a trading update, Playtech said the business continued to perform strongly since posting “strong” first-half results in September last year.

The H1 results announcement included revenue increasing by 73% year-on-year to €792.3m, with €446.0m of this coming from the Snaitech business.

Playtech said Snaitech, as well as its B2B business, continued to perform well in the months after and as a result, adjusted EBITDA is expected to climb by at least 26% year-on-year for the full year.

The provider plans to publish its full-year results and host a B2B investor day on 23 March.

The 2022 financial year proved to be a busy one for Playtech, having completed the sale of its financial trading division Finalto to Gopher Investments for an enterprise value of US$250m. This sale is part of the group’s simplification strategy, as it focuses on the B2B and B2C gambling.

Playtech itself had also appeared as if it could be sold, as Asia-based investment group TTB Partners considered a bid following the collapse of an offer from Aristocrat. However, despite the support of CEO Mor Weizer, TTB declined to submit a formal offer.