Playtech Impressed With Remarkable Q1 And Shared Its Dispositions

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18 may 2022
Author: James Burton
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Playtech began this year with an adjusted EBITDA over € 100 million.

Playtech: Q1 report in 2022

Snaitech unit had a great beginning of the year in B2C, thanks to an increase in its internet business, retail revival, and positive sports outcomes.

Playtech stated that a significant momentum from the Americas, particularly with Caliplay in Mexico, caused a growth. It also reported great results in its broader B2B activities, including live casinos, with its division bringing in new partnerships and introducing numerous new games.

The company is also aware that there is no guarantee their recent growth will continue throughout the rest of the year. However, the firm's achievements to date and existing business trends strengthen its position very well, and the management hopes to be able to add new items to the marketplace.

TTB’s Contribution

An overview of active negotiations with TTB Partners regarding the prospective buying of the company was issued. They confirmed a possible acquisition in February. Playtech agreed to lift certain limitations to allow the establishment and make an offer.

The board stated that there was some progress in negotiations, but there was still no clarity on whether a proposal will be made. TTB's prohibitions, which would have prevented it from making its own offer, were set to last 6 months from the date of withdrawal, until May 20.

There is no existing timeframe for a possible proposal from the partners. Playtech claimed that it is still looking into the possibility of a transaction involving Caliplay partnership with Mexico's Caliente. Caliplay is already in the process of being spun out through a merger and trading with SPAC.

Playtech informed they have on a track:

  • the sale of its Finalto fintech operation to Gopher by the end of Q2, with 2 out of 4 essential regulatory approvals;
  • to sign numerous new customers in the United States;
  • to form multiple new collaborations in Canada.
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