Playtech Announce Trading Update For First 4 Months of 2025
Playtech announced to day their trading update for the first 4 months of 2025 till April 30, saying that the company had delivered a solid performance over the first four months of the year, with trading in line with expectations. The Company said it has also made good progress against its strategic objectives as it transitions to a predominantly pure-play B2B business.
Trading
Software fees from Caliplay continue to see strong growth. As previously flagged, the revised strategic agreement with Caliplay came into effect on 31 March 2025. Playtech is now entitled to receive dividends as a 30.8% equity holder, although is no longer entitled to receive the additional B2B services fees since that date.
The US continues to see very strong revenue growth across Live, Casino and Platform, as launches with major operators in 2024 translate into revenue. Playtech continues to see significant demand for its products in the Americas, in particular Live, and will continue to invest to meet this demand.
Live remains a key driver of performance, delivering healthy growth in the period, while the higher margin, less capital-intensive SaaS business showed continued momentum with very strong revenue growth across multiple operators and geographies.
We have seen initial headwinds, as previously flagged, following new regulations in Latam markets, with Brazil impacted by the transition to a regulated market, and Colombia introducing a temporary VAT charge. We remain positive about the opportunities these markets present to our business.
Corporate activity
Snaitech sale
As previously announced, the €2.3 billion sale of the Snaitech business to Flutter Entertainment plc group occurred on 30 April 2025, with approximately €1.8 billion of the sale proceeds to be paid out to shareholders as a special dividend on 12 June 2025.
HAPPYBET
Progress continues to be made on the sale process for the remaining German HAPPYBET business. The Company will provide an update in due course.
Balance sheet
On 2 May 2025, Playtech served notice to redeem at par, on 2 June 2025, the remaining €150 million of the €350 million senior secured notes, which were otherwise due to mature in March 2026, strengthening the balance sheet of the Playtech business going forward.
Board change
In line with the announcement on 16 April 2025, John Gleasure will assume the role of Chairman after today’s AGM, replacing Brian Mattingley, who will step down as Chair and from the Board.
Mor Weizer, CEO, said: “It has been a busy start to the year for Playtech as we transition to a predominantly pure-play B2B business. With the sale of Snaitech now completed, we have significantly strengthened our balance sheet and will return approximately €1.8 billion to shareholders as a special dividend.
Our core B2B business has delivered a solid performance in the first four months of the year, with a standout performance in the US. Given the strategic and operational progress being made across the business, we remain confident in Playtech’s ability to execute on the exciting growth opportunities over the medium term.”
