Playtech hailed a “performance well ahead of expectations earlier in the year” despite reporting a 10% year-on-year (YoY) dip in 2025 revenue to €763.6m and a 9% decline in adjusted EBITDA to €197m.
The business said the 10% drop was linked to renewed terms on its agreement with Mexico-facing operator Caliente Interactive, as well as Brazil regulating and the VAT on deposits in Colombia
Playtech now owns a 30.8% share in the entity and switched its model from taking B2B services fees as revenue to taking incoming via adjusted EBITDA as a larger shareholder.
This contributed to a 9% drop in B2B revenue to €688.3m in 2025, but bosses said that the new agreement “provides foundation for future growth”.
The World Cup, in which Mexico will serve as one of the three hosts alongside the US and Canada, was championed as a key growth opportunity.
However, Playtech shares are down almost 9% at the time of writing to 326p.
Last year, Playtech completed the €2.3bn sale of Italian B2C operator Snaitech to Flutter Entertainment as it pursued a “pure-play” B2B model.
The focus is paying dividends in the US where B2B revenue was up almost 100% YoY, with the supplier now live in six igaming states.
Revenue from regulated markets was down 7% to €559.4m, while unregulated revenue slipped 17% to €128.9m.
Playtech said that this was driven by Brazil’s regulation and that further shift in New Zealand, Finland, Alberta, Ireland the UAE will bring the total down even further.
The firm does still operate a small B2C division, with revenue down 20% YoY to €78.5m.
The arm comprises primarily of Sun Bingo in the UK and HAPPYBET, with the latter due to wind-down in 2026.
Sun Bingo and other revenue was down 16% to €66.3m as bosses pointed to affordability checks and marketing restrictions.
The upcoming tax hikes have also led to an impairment charge being placed against the business.
Playtech also noted that its adjusted investment incoming leaped from €2.8m to €61.8m, primarily powered by the new Caliente deal.
The company holds a single digit stake in Hard Rock Digital, with returns last year hitting €10.3m versus €3.2m in 2024.
On 2026, management said they expected to deliver revenue and adjusted EBITDA ahead of current consensus despite the headwinds in several markets.
Mor Weizer, Playtech CEO, said: “2025 was a year of significant transition for Playtech, as we completed the sale of Snaitech and returned to our roots as a leading, global, predominantly pure-play B2B business.
“Against this backdrop, we delivered a performance well ahead of expectations earlier in the year, demonstrating the strength of our technology offering.
“The strong momentum we saw in 2025 has carried over into the start of 2026, particularly in the Americas.
“We remain confident in achieving our ambitious medium-term targets and see exciting opportunities for the group across our markets.”
This article includes insight from our data partner, EGM. A GGR-focused product launched earlier this year, delivering broader market coverage and data-led insight across the global gambling industry. Click here to find out more about EGM and book a demo by clicking here
The post Playtech says 2025 was a “year of significant transition” as revenue drops 10% first appeared on EGR Intel.
London-listed operator remains confident on future growth, pointing to “excellent start to 2026” particularly in the Americas
The post Playtech says 2025 was a “year of significant transition” as revenue drops 10% first appeared on EGR Intel.