Tag Archives: mor weizer

Aristocrat confirms £2.7bn proposed Playtech buyout

Sports betting software and online gaming supplier Playtech is set to be purchased by Australian-listed gaming manufacturer Aristocrat Leisure, which has announced a cash offer of £2.7 billion for the FTSE250 technology group.  Aristocrat aims to leverage the company to boost its revenues, ‘operate and innovate’ in the European market through the acquisition’s Snaitech division, reach a broader range of …

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Playtech sees 4% revenue fall but maintains confidence in B2B success

Playtech Plc has highlighted a ‘very strong performance’ for its B2B verticals throughout the first half of 2021, achieving objectives across three continents, despite experiencing a 4% decline in revenue.  Informing stakeholders in its interim trading report and following on from its July update, the FTSE 250 gaming technology group detailed that total revenue had fallen to €457.4 million (H1 …

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Refocused Playtech plans for strongest H2 comeback 

Playtech Plc has delivered on its strategy to simplify the company and focus on ‘core B2B’ growth by divesting its final non-core business asset ahead of a critical second half of 2021. This morning, Playtech confirmed that it had reached definitive terms to sell financial trading division Finalto to Barinboim Group – a private consortium led by Leumi Partners and Menora …

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Playtech reports €73m loss in year of COVID shocks  

Playtech Plc has made significant progress with its group-wide strategic objectives during 2020 – a year in which all core business units were challenged by COVID-19.  The FTSE250 technology group recorded full-year group revenues of €1.07 billion, down 25% on corresponding FY 2019 results of €1.4 billion, with the company noting that severe H1 headwinds impacted the performance of its …

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Playtech’s ‘interrupted Snaitech’ bears brunt of COVID-19 disruptions

Playtech Plc will trade with caution for the remainder of 2020, as its business units emerge from a ‘disrupted period’, with its corporate outlook dependent on further COVID-19 outcomes.    Publishing its 2020 interim results (period ending 30 June), Playtech recorded a 23% drop in corporate revenues to €564 million, (H1 2019: €728m) as the FTSE250 technology group absorbed a series …

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Retail closures have ‘severe’ impact on Playtech

Playtech has praised its company’s resilience in navigating COVID-19 realities, despite its B2B and B2C gambling divisions taking a ‘severe’ hit. Issuing an update on its first-half performance and current trading, Playtech noted that adjusted EBITDA amounted to ‘more than €160 million’, which was largely driven by the company’s online division and TradeTech performance. Mor Weizer, CEO, commented: “Thanks to …

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Playtech eyes US acceleration following NJ approval

Playtech has been granted regulatory approval by New Jersey’s DGE, allowing the technology group to provide casino product services to state licensed incumbents.  The FTSE250 technology group will launch its casino products in the Garden State, servicing long-term partner bet365’s transactional waiver with the Hard Rock Atlantic City property. Securing its DGE approval, Playtech detailed that it is actively seeking …

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Playtech calls for internal review following PTES failures 

Playtech will implement a review of the ‘group’s position’ led by Interim chair Claire Milne, in response to the UK Gambling Commission (UKGC) publishing its investigation into ‘systemic failings’ of defunct subsidiary PT Entertainment Services (PTES).  The Board of FTSE technology group confirmed that it ‘takes full responsibility and apologises for the regulatory breaches’, emphasising that the AML and social …

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Playtech trades with confidence to mitigate first stage COVID-19 impacts

Playtech Plc corporate performance remains in-line with expectations despite its business units trading in unprecedented circumstances. Playtech explained that its performance is currently tracking better than the company had anticipated in publishing its mid-March COVID-19 update.  Publishing a snapshot of key metrics, Playtech detailed a ‘strong Q1 2020 period’, in which the FTSE technology group delivered an adjusted EBITDA of …

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Playtech to power RETAbet casino drive

Playtech Plc has become lead online casino platform and live table games supplier for Spanish online bookmaker RETAbet (Retabet.es). RETAbet is the online sportsbook property of Basque country gambling group Euskal Kirol Apostuak SA, which has sanctioned Playtech to boost RETAbet’s online casino capacity. The partnership sees Playtech provide RETAbet with a tailored casino suite featuring the technology firm’s high-performance gaming …

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