REG - Playtech PLC - AGM Trading Update

PlaytechAnnouncement

Yesterday 07:00

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20250521:nRSU4825Ja&default-theme=true

RNS Number : 4825J  Playtech PLC  21 May 2025

Playtech plc

("Playtech" or the "Company")

 

AGM trading update

 

Solid start to 2025; continued progress against strategic objectives

 

Playtech plc (LSE: PTEC) is pleased to report on trading for the period from 1
January 2025 to 30 April 2025.

Overview

Playtech delivered a solid performance over the first four months of the year,
with trading in line with expectations. The Company has also made good
progress against its strategic objectives as it transitions to a predominantly
pure-play B2B business.

Trading

Software fees from Caliplay continue to see strong growth. As previously
flagged, the revised strategic agreement with Caliplay came into effect on 31
March 2025. Playtech is now entitled to receive dividends as a 30.8% equity
holder, although is no longer entitled to receive the additional B2B services
fees since that date.

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.

We have seen initial headwinds, as previously flagged, following new
regulations in Latam markets, with Brazil impacted by the transition to a
regulated market, and Colombia introducing a temporary VAT charge. We remain
positive about the opportunities these markets present to our business.

Corporate activity

Snaitech sale

As previously announced, the €2.3 billion sale of the Snaitech business to
Flutter Entertainment plc group occurred on 30 April 2025, with approximately
€1.8 billion of the sale proceeds to be paid out to shareholders as a
special dividend on 12 June 2025.

HAPPYBET

Progress continues to be made on the sale process for the remaining German
HAPPYBET business. The Company will provide an update in due course.

Balance sheet

On 2 May 2025, Playtech served notice to redeem at par, on 2 June 2025, the
remaining €150 million of the €350 million senior secured notes, which
were otherwise due to mature in March 2026, strengthening the balance sheet of
the Playtech business going forward.

Board change

In line with the announcement on 16 April 2025, John Gleasure will assume the
role of Chairman after today's AGM, replacing Brian Mattingley, who will step
down as Chair and from the Board.

Mor Weizer, 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 €1.8 billion 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."

- ENDS -

For further information please contact:

 Playtech plc                                +44 (0) 20 3805 4822
 Sandeep Gandhi, Head of Investor Relations
 Headland (PR adviser to Playtech)           +44 (0) 20 3805 4822
 Lucy Legh, Jack Gault

 

About Playtech

Founded in 1999 and with a listing on the Main Market of the London Stock
Exchange, Playtech is a technology leader in the gambling industry with over
7,300 employees across 19 countries.

Playtech is the gambling industry's leading technology company delivering
business intelligence driven gambling software, services, content and platform
technology across the industry's most popular product verticals, including,
casino, live casino, sports betting, bingo and poker. It is the pioneer of
omni-channel gambling technology through its integrated platform technology,
Playtech ONE. Playtech ONE delivers data driven marketing expertise, single
wallet functionality, CRM and responsible gambling solutions across one single
platform across product verticals and across retail and online.

Playtech partners with and invests in the leading brands in regulated and
newly regulated markets to deliver its data-driven gambling technology across
the online and retail value chain. Playtech provides its technology on a B2B
basis to the industry's leading online and retail operators, land-based casino
groups and government sponsored entities such as lotteries.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  TSTAMMFTMTITBFA