Playtech's Confidence in Achieving Goals: Results in Q1 2023

30 may 2023
Author: James Burton
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The supplier is optimistic about its ability to meet financial and strategic objectives. In a recent Q1 trading update, the company expressed certainty in exceeding current expectations for adjusted EBITDA for the fiscal year.

Playtech's B2B and B2C success in Q1 2023

Although Playtech expects growth rates to be moderate later in 2023, the studio remains positive about its overall performance. Let us delve into the factors driving the brand's confidence and achievements.

Attainments in the B2B Sector: Deals in Latin America and the US

This operation field experienced commendable success in the first 4 months of the year thanks to such activities:

  1. The growth is attributed to expansion in regulated markets. Through strategic cooperation in Latin America, Playtech has strengthened its position as a leading iGaming content supplier in the region. Its partnership with Mexico's market leader, Caliente, has contributed to the vendor's upward trajectory.
  2. Playtech made a significant move in early 2023 by signing an important agreement with Hard Rock Digital. This step solidified the firm's presence in the American market. The partnership has set the stage for Playtech's accelerated US strategy.
  3. The vendor's B2B growth has also been fueled by its live casino offering and improved margin gains. The company has effectively capitalised on the rapid expansion of the market, resulting in substantial development and increased performance.

Achievements in the B2C Segment: Focus on Sportsbook Projects

The company's B2C division has also experienced notable growth. The revival of football activities after the World Cup and the strong demand for betting services have created a favourable environment for development, particularly in the offline segment.

The online field also continues to show progress. Playtech's strategic and operational initiatives in the HAPPYBET division are yielding positive results. The EBITDA loss in the trading period has shown a slight decrease compared to 2022.

Playtech remains committed to maintaining strong corporate governance practices. As part of this tendency, the firm has announced some changes in its management structure. Ruby Yam joined the Board as an Independent Non-Executive Director on 1 June 2023, while John Krumins will step down in September.

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