Playtech has lifted its full-year 2026 adjusted EBITDA guidance to more than €300 million (approximately US$337 million), citing sustained strength across the Americas. The revised outlook, announced in a trading update on Tuesday, surpasses the €279 million consensus estimate compiled from seven analysts, whose forecasts had ranged below the new guidance.
Trading Ahead of Expectations
The company said trading between 1 July and 31 October was ahead of expectations, with momentum in the Americas serving as the primary driver of the upgraded forecast. The announcement marks a further step up from guidance issued in September, when Playtech indicated it was on track to deliver more than €270 million in adjusted EBITDA for 2026 – itself a figure that had already been raised multiple times during the year following strong interim results.
Investors responded positively to the update, with Playtech shares rising approximately 3% in early London trading on Tuesday, reaching 380.6 pence, up 12.2 pence or 3.3%, after touching an intraday high of 385 pence.
The latest guidance caps a period of consistent outperformance for the London-listed supplier. Its half-year results, published in September, reported adjusted EBITDA of €162.5 million, a 77% increase year-on-year, alongside free cash flow of €101 million and a net cash position of €39.2 million. Revenue growth in the US and Canada reached 176% in constant currency, while Latin American operations delivered underlying growth of approximately 29%, driven primarily by Mexico and supported by the Caliplay partnership.
The company’s confidence in regulated markets, particularly across the Americas, has underpinned successive guidance upgrades throughout 2025 and 2026, with the trajectory building toward the upper end of its medium-term adjusted EBITDA target range of €250 million to €300 million – a threshold the new forecast now exceeds.
2027 Headwinds on the Horizon
While the 2026 outlook was raised, the trading update also flagged a prospective headwind. Playtech said it expects to absorb a three-month effect on adjusted EBITDA during 2026 stemming from a regulatory change in Brazil, but cautioned that a more substantial impact could arise in 2027. Current analyst consensus for 2027 adjusted EBITDA stands at approximately €266 million, below the newly upgraded 2026 figure, reflecting expectations of that pressure.
Offsetting this, Playtech has indicated it is investing in a significant partnership in Brazil that the company expects to support growth from 2027 onward, though it has not disclosed further details.
