Playtech bosses have praised “very strong revenue growth” across its US operations in the first four months of 2025 as the business ramps up its operations as a pure-play B2B company.
The firm published a trading update today, 21 May, covering 1 January to 30 April in which management reflected on what was a “solid” company-wide performance to begin the year.
It has been a busy start to 2025 for Playtech, including the appointment of John Gleasure as its new chair elect, alongside a strategic shift to focus solely on B2B.
That shift comes after the completion of the €2.3bn sale of Snaitech to Flutter Entertainment, while plans remain in place to dispose of its German HAPPYBET brand.
Playtech said that progress has been made in regard to a sale of HAPPYBET and a more detailed update will be delivered in due course.
The London-listed company outlined how last year’s launches with major operators in the US have started to translate into revenue.
Playtech’s full-year 2024 results release in March saw revenue from the Americas climb 22% on a constant currency basis to €251.6m, setting it apart as the firm’s largest revenue contributor.
That is a trend that has continued in the first four months of 2025, with the US singled out for its strong showing.
The trading update read: “The US continues to see very strong revenue growth across live, casino and platform, as launches with major operators in 2024 translate into revenue.
“Playtech continues to see significant demand for its products in the Americas, in particular live, and will continue to invest to meet this demand.
“Live remains a key driver of performance, delivering healthy growth in the period, while the higher margin, less capital-intensive SaaS business showed continued momentum with very strong revenue growth across multiple operators and geographies.”
In Mexico, the revised strategic agreement with Caliplay, which came into effect on 31 March, has seen software fees continue to grow.
The new agreement means Playtech is a 30.8% equity holder, but will not receive additional B2B services fees.
However, other parts of Latam have been hit by headwinds, according to Playtech’s most recent update.
Brazil’s transition to a regulated market, which launched on 1 January, has slowed momentum, as has a temporary VAT charge in Colombia, though the FTSE 250 supplier remains optimistic about its Latam prospects.
Mor Weizer, Playtech CEO, said: “It has been a busy start to the year for Playtech as we transition to a predominantly pure-play B2B business.
“With the sale of Snaitech now completed, we have significantly strengthened our balance sheet and will return approximately €1.8bn to shareholders as a special dividend.
“Our core B2B business has delivered a solid performance in the first four months of the year, with a standout performance in the US.
“Given the strategic and operational progress being made across the business, we remain confident in Playtech’s ability to execute on the exciting growth opportunities over the medium term.”
The trading update has failed to inspire an uptick in Playtech’s share price, with its stock currently valued at 348p, representing a 1.28% decline since the market opened.
The post Playtech CEO hails “standout” US performance as part of trading update first appeared on EGR Intel.
London-listed firm reports a “solid” start to the year despite initial headwinds in Latam, while progress on HAPPYBET sale continues to be made
The post Playtech CEO hails “standout” US performance as part of trading update first appeared on EGR Intel.