Playtech expects to issue an update regarding the ongoing divestment process of its Finalto financial services division, as the group says that H1 trading has been in line with expectations.
After reporting a “strong start” to 2021 during the latter stages of May, the gambling group’s online businesses are said to have continued to perform “very strongly” with retail in Italy beginning to reopen from mid-June.
The firm acknowledges that although its performance through the first of the year was “in line with its expectations,” it has actually been achieved “with a different mix of contributions than originally anticipated”.
A “very strong” performance from B2B online was helped along by Caliente, with the online business of Snaitech offsetting the ongoing impact of longer than expected retail closures in Italy. Playtech’s business in Asia was stable through the first half of the year, in line with the levels achieved in H2 2020.
Furthermore, the firm has also reported “significant progress” made against its strategic and operational objectives, including in its key target growth markets of the US, Latin America and Europe.
“In the US the company signed a strategic, multi-state, multi-product deal with the Greenwood companies, which operate the Parx Casino, and subsequently launched in Michigan, with further launches planned later in 2021 and 2022,” the group comments.
“Further progress includes entering into a strategic agreement with Holland Casino in Europe, a new global distribution agreement with Scientific Games and continued strong performances from Caliente and others in Latin America.”
Despite the ongoing challenges being posed by the health pandemic, and the macroeconomic outlook remains uncertain with the possibility of further unexpected lockdowns, given the strong H1 performance and the momentum within the business, the firm’s board has stressed confidence at the prospects for Playtech through the remainder of the year and beyond.