Playtech has recorded revenue of €387m (£334.8m) for the first half of 2025, representing a 9.9% decrease when compared to the corresponding period in 2024.
The majority of the revenue, €347.6m, was derived from the firm’s B2B division, with a further €41m coming from B2C sources.
The company also noted that €1.6m was deducted from revenue due to an intercompany B2B licence fee.
On the B2B side, the majority of revenue came from the North America and Latin America regions.
The US and Canada generated revenue of €21.8m, up 64% year on year (YoY), while Latam’s contribution of €87.7m fell 32% YoY to €87.7m.
US revenue was boosted by the company launching in its fourth igaming state, West Virginia, in June, partnering with operators including DraftKings, Rush Street Interactive, BetMGM and Delaware North in the process.
Playtech attributed the fall in Latam revenue to a revised agreement with Caliente Interactive in Mexico, which came into effect in March.
Latam revenue was also affected by Colombia’s 19% VAT on player deposits, in addition to Brazil’s transition to a regulated market in January.
Revenue from Europe, excluding the UK, increased 4% YoY to €102m.
The UK itself added a further €64.2m, down 3% YoY, while the Rest of the World contributed €6.6m.
Revenue from unregulated markets also totalled €65.3m in H1, down from €71.9m the previous year.
On the B2C side, €33.2m of revenue came from Sun Bingo and other B2C sources.
German horseracing operator Happybet, which Playtech announced the sale of in May, added a further €7.8m.
Playtech’s revenues were also boosted by the sale of Italy-facing brand Snaitech to Flutter Entertainment in a €2.3bn deal.
After accounting for €266.2m of distribution costs, €118m of administrative costs, and €19.3m worth of income taxes, profit for the first half of the year came to €1.6bn when factoring in the Snaitech sale.
Adjusted EBITDA for the period fell 16.3% YoY to €91.6m, leaving an EBITDA margin of 24%.
This was in line with the €90m EBITDA forecast delivered by the company for H1 last month.
Playtech CEO Mor Weizer praised the company’s results following its transition to a pure-play B2B firm.
He said: “These results show the strong start Playtech is making in its transition back to its roots as a predominantly pure-play B2B business. I’m very pleased that we have reported earnings ahead of expectations from earlier in the year, reflecting the strong performance across our key markets.
“The second half of the year has started well, and we are on track to be ahead of expectations for the year and well placed to achieve the ambitious medium-term growth targets we set out at the FY 2024 results.
“The strength of our balance sheet will allow us to increase investment in the US and Brazil in H2 to drive continued growth.
“We continue to see significant growth opportunities in the market for Playtech, and I am confident that the combination of our market leading technology and talented people puts us in a strong position to deliver on this exciting potential.”
H1 also saw Playtech announce the appointment of former DAZN executive John Gleasure as an independent non-executive director, and the firm’s chair elect following the departure of Brian Mattingley.
Playtech’s share price increased by six percent to 422.5 GBX at market open following the announcement of its H1 results.
The post Snaitech sale boosts Playtech revenue to €387m for H1 first appeared on EGR Intel.
Figure represents a 9.9% year-on-year decrease despite strong performances across the US and Canada
The post Snaitech sale boosts Playtech revenue to €387m for H1 first appeared on EGR Intel.