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 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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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 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 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 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 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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The Financial Times reports further boardroom drama brewing at FTSE250 gambling technology group Playtech Plc, as US hedge fund SpringOwl, pushes governance to restructure the firm’s executive remuneration policies Led by renowned activist investor Jason Ader, SpringOwl is reported to want Playtech governance to install a more incentivised executive pay package, structured on share options over cash rewards. SpringOwl’s reported …
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FTSE100 online gambling group GVC Holdings has this morning announced that it has signed an agreement with Playtech Plc ‘covering a new long-term commercial relationship’. Playtech has formerly served as the lead platform and systems supplier for the GVC acquired properties of Ladbrokes and Coral UK. Integrating Ladbrokes Coral assets during the course of 2018, industry analysts wondered what type …
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Publishing its full-year 2018 results, FTSE250 gambling technology group Playtech Plc states that it closes a ‘year of many challenges’, as governance places returning shareholder value and capital at the top of its agenda. Operating within a much-changed global gambling landscape, Playtech B2B and B2C divisions continue to adjust to Asian market downturns and regulatory headwinds across the UK and Italy. Despite facing …
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