REG - Playtech PLC - Trading Update

PlaytechAnnouncement

05/05/2022 07:00

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RNS Number : 3590K  Playtech PLC  05 May 2022

 

Playtech plc

('Playtech' or the 'Company')

Excellent start to 2022 continues

Playtech plc ("Playtech") is pleased to report on trading for the first four
months of 2022 and also provide an update on the Company's ongoing corporate
activity.

Trading update

Since FY 2021 results were announced on 24 March 2022, Playtech has continued
its excellent start to the current financial year with Adjusted EBITDA
(unaudited) for the first three months of more than €100 million. This
positive Q1 run rate has continued through April.

The very strong performance has been driven by both the B2B and B2C
businesses. Snaitech has seen the same trends continue from H2 2021, with an
excellent start to the year driven by its online business, retail recovery and
favourable sports results. B2B performance has been driven by very strong
momentum from the Americas, in particular Caliplay in Mexico, in addition to a
strong performance across the wider B2B operations, including Live Casino. The
Live Casino business has also signed several new licensees and launched
several new games. In North America, Playtech has signed multiple new
customers in the US and launched several new partnerships in Canada following
the opening of the Ontario market.

The excellent start to the year gives the Board great confidence in the
prospects for FY 2022.  As would be expected, the Board remains cautious and
focussed given that we are at an early stage in the year, combined with the
uncertain macro backdrop due to the pandemic and the war in the Ukraine. The
Board is also conscious there cannot be any certainty that the strength across
the business so far will be repeated throughout the remainder of the year.
That said, the Company's performance to date and current trends in the
business positions the Company very well and the Board would hope to be able
to update the market further as we progress through the year.

Corporate activity

There has been some positive progress in discussions with the TTB investor
group regarding its potential offer for the Company. However, there can be no
certainty as to whether an offer for the Company will be announced, or the
terms on which any offer might be made.

Although capital market conditions are currently challenging, Caliplay and
Playtech continue to explore a possible transaction which would allow Caliplay
to enter the U.S. market on an accelerated basis.

The disposal of Finalto remains on track to complete in Q2 2022 with two of
the four required regulatory clearances having now been received.

Annual General Meeting

Playtech will hold its 2022 Annual General Meeting on Thursday 30 June 2022.

 

- Ends -

 

For further information please contact:

 

 Playtech plc                                                              +44 (0) 1624 645 954

 Chris McGinnis, Director of Investor Relations & Strategic Analysis

 Headland (PR adviser to Playtech)                                         +44 (0) 20 3805 4822

 Lucy Legh, Stephen Malthouse

 

About Playtech

Founded in 1999 and premium listed on the Main Market of the London Stock
Exchange, Playtech is a market leader in the gambling and financial trading
industries with c.6,600 employees across 26 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, virtual sports, 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 retail and online value chain. Playtech provides its technology on a B2B
basis to the industry's leading retail and online operators, land-based casino
groups and government sponsored entities such as lotteries. Playtech directly
owns and operates Snaitech, the leading sports betting and gaming company in
online and retail in Italy,

Playtech's Financials Division, Finalto, is a technology leader in the CFD and
financial trading industry and operates both on a B2B and B2C basis.

 

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