Playtech Plc was boosted by a 7 per cent increase in revenues to €1.7bn and a 9 per cent level up in adjusted EBITDA to €432.3m, as the firm lauded growth across all verticals.
The spike was significantly bolstered by the strength of the firm’s B2C output and its growth within the Italian market.
Continuing to cement its position as a leader in the region, Snaitech Italia landed revenues of €949m (FY2022: €899m) and an adjusted EBITDA of €256m (FY2022: €244m).
Further underlining the versatility of Playtech’s revenue and growth, the results also detailed how the group expanded its US market igaming B2B services – bolstered by 11 licences within the US.
Nonetheless, in Latin America there remains a level of uncertainty over the case involving Caliplay, which continues to rumble on.
The disagreement over the firm’s Mexican igaming licence will unfold in October when the case returns to court. However, it is something that could impact Playtech’s end of year results.
Chairman Brian Mattingley stated: “I would like to take this opportunity to thank the Executive Management team, who continue to demonstrate their agility and resilience in navigating a challenging external backdrop, given the ongoing wars in Ukraine and the Middle East.
“Playtech has built on the strong strategic and operational progress of recent years and continues to cement its leadership across both B2B and B2C sectors. While there were many challenges in 2023, the consistent quality at the core of our business meant that we were able to upgrade our expectations during the year and deliver a strong financial performance.”
Underlining a successful period for the group, Playtech confirmed a near three-fold increase in post-tax profits to €105m, matched against FY2022 profits of €40m.
Group CEO, Mor Weizer, commented on the results: “Playtech performed very strongly over the year and delivered Adjusted EBITDA up 9 per cent to €432m, ahead of previously raised expectations.”
“As well as delivering excellent financial results, the Group made important strategic and operational progress, including our expansion across the US.
“Our B2C division delivered revenues exceeding €1bn for the first time, and Snaitech remains well positioned to benefit from the under-penetration of the online segment, given the strength of the brand, the continuous improvements to apps and technology, and a broadening of its content offering.”
