The board of Playtech Plc has informed investors that Hong Kong investment fund TTB Partners will no longer submit a takeover offer for the FTSE250 gambling technology group. Issuing a statement, TTB detailed that “due to challenging underlying market conditions it is not intending to make an offer for Playtech Plc”. TTB’s withdrawal follows Playtech’s board granting the Hong Kong …
Read More »
The board of Playtech Plc has this morning announced that Hong Kong fund TTB Partners has been granted an extension period to submit a deal to acquire the FTSE250 technology group. TTB Partners’ previous deal submission deadline was due by 17 June, a date that has been extended to Friday 15 July, as Playtech governance informed investors that ‘discussions between …
Read More »
Playtech Plc has delivered 2021 results above its expected guidance, as the FTSE250 technology group continues to consider its long-term strategic options. Updating stakeholders in its full year results for 2021, Playtech reported a 12% increase in revenue from €1,078.5 million to €1,205.4 million – driven by growth of its B2B and B2C units. Revenue growth was coupled with a …
Read More »
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 …
Read More »
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 …
Read More »
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 …
Read More »
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 …
Read More »
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 …
Read More »
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 …
Read More »
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 …
Read More »
SBC News Voice of the Sports Betting Industry