2023 was a fruitful year for London-listed Playtech (LSE: PTEC), with adjusted revenue up 7% and EBITDA up 9% compared to 2022.
However, the net profit of the financial trading business decreased slightly to 50.2 million euros.
Playtech Delivers Strong Financial Results in 2023
Playtech’s revenue from continuing operations increased to €1,706.7 million in 2023, demonstrating the company’s strong financial performance. Sales in the B2B segment increased by 8% to 684.1 million euros, while B2C sales exceeded 1 billion euros for the first time, reaching 1.037 billion euros.
“Playtech performed very strongly during the year and exceeded previously raised expectations by increasing adjusted EBITDA by 9% to €432 million,” said Mor Weizer, CEO of Playtech.
Despite the growth in revenue and EBITDA and the significant increase in reported net income, adjusted profit after tax decreased slightly, down 2% compared to 2022. Ultimately, Playtech earned €50.2 million in 2023.
The company maintained its medium-term adjusted EBITDA targets for both B2B (€200-250 million) and B2C (€300-350 million) segments.
“Regarding the outlook, we are well prepared to achieve our medium-term objectives for both our B2B and B2C segments and have a high-quality balance sheet that provides us with the flexibility to pursue both organic and inorganic growth opportunities.” Weizer added:
Performance by sector
Both the B2B and B2C sectors showed solid performance. Adjusted EBITDA in the B2B segment increased 14% to €182 million, driven by strong operations. Influence
Influence
In financial trading, leverage is a loan provided by a broker that allows traders to control a relatively large amount of money with a much smaller initial investment. Therefore, using leverage allows traders to earn much larger returns on their investments compared to trading without leverage. Traders try to profit from movements in financial markets, including stocks and currencies. Trading without leverage can significantly reduce potential rewards, so traders should
In financial trading, leverage is a loan provided by a broker that allows traders to control a relatively large amount of money with a much smaller initial investment. Therefore, using leverage allows traders to earn much larger returns on their investments compared to trading without leverage. Traders try to profit from movements in financial markets, including stocks and currencies. Trading without leverage can significantly reduce potential rewards, so traders should
Read these terms. Live casinos continued to see good revenue growth, especially in regulated markets.
In the B2C segment, Snaitech revenue increased 5% to €946.6 million, maintaining its leading market share among all Italian sports betting brands. Sun Bingo and other B2Cs increased adjusted EBITDA to €6 million, driven by more efficient operations.
marketing
marketing
Marketing is defined as the business process of identifying, anticipating, and satisfying customer needs and desires. This is an important element of any operation or brokerage in the financial services sector. Well-funded marketing campaigns play a critical role in the survival and longevity of these companies in an increasingly competitive industry. Within the foreign exchange market, marketers perform a variety of functions to help acquire, secure or retain customers. In particular, the latest forex brokers also do not have
Marketing is defined as the business process of identifying, anticipating, and satisfying customer needs and desires. This is an important element of any operation or brokerage in the financial services sector. Well-funded marketing campaigns play a critical role in the survival and longevity of these companies in an increasingly competitive industry. Within the foreign exchange market, marketers perform a variety of functions to help acquire, secure or retain customers. In particular, the latest forex brokers also do not have
Read these terms spending and improved user experience.
Strategic Partnerships and Expansion
In 2023, Playtech has made significant progress in its strategic partnerships and expansion efforts. The company has entered into a landmark partnership with Hard Rock Digital and currently operates three US live casino properties with licenses in 11 US states. The Americas was Playtech’s biggest growth driver, with sales up 46% to €211.9 million.
“In addition to delivering excellent financial results, the group has made significant strategic and operational progress, including expansion across the United States,” Weizer concluded.
2023 was a fruitful year for London-listed Playtech (LSE: PTEC), with adjusted revenue up 7% and EBITDA up 9% compared to 2022.
However, the net profit of the financial trading business decreased slightly to 50.2 million euros.
Playtech Delivers Strong Financial Results in 2023
Playtech’s revenue from continuing operations increased to €1,706.7 million in 2023, demonstrating the company’s strong financial performance. Sales in the B2B segment increased by 8% to 684.1 million euros, while B2C sales exceeded 1 billion euros for the first time, reaching 1.037 billion euros.
“Playtech performed very strongly during the year and exceeded previously raised expectations by increasing adjusted EBITDA by 9% to €432 million,” said Mor Weizer, CEO of Playtech.
Despite the growth in revenue and EBITDA and the significant increase in reported net income, adjusted profit after tax decreased slightly, down 2% compared to 2022. Ultimately, Playtech earned €50.2 million in 2023.
The company maintained its medium-term adjusted EBITDA targets for both B2B (€200-250 million) and B2C (€300-350 million) segments.
“Regarding the outlook, we are well prepared to achieve our medium-term objectives for both our B2B and B2C segments and have a high-quality balance sheet that provides us with the flexibility to pursue both organic and inorganic growth opportunities.” Weizer added:
Performance by sector
Both the B2B and B2C sectors showed solid performance. Adjusted EBITDA in the B2B segment increased 14% to €182 million, driven by strong operations. Influence
Influence
In financial trading, leverage is a loan provided by a broker that allows traders to control a relatively large amount of money with a much smaller initial investment. Therefore, using leverage allows traders to earn much larger returns on their investments compared to trading without leverage. Traders try to profit from movements in financial markets, including stocks and currencies. Trading without leverage can significantly reduce potential rewards, so traders should
In financial trading, leverage is a loan provided by a broker that allows traders to control a relatively large amount of money with a much smaller initial investment. Therefore, using leverage allows traders to earn much larger returns on their investments compared to trading without leverage. Traders try to profit from movements in financial markets, including stocks and currencies. Trading without leverage can significantly reduce potential rewards, so traders should
Read these terms. Live casinos continued to see good revenue growth, especially in regulated markets.
In the B2C segment, Snaitech revenue increased 5% to €946.6 million, maintaining its leading market share among all Italian sports betting brands. Sun Bingo and other B2Cs increased adjusted EBITDA to €6 million, driven by more efficient operations.
marketing
marketing
Marketing is defined as the business process of identifying, anticipating, and satisfying customer needs and desires. This is an important element of any operation or brokerage in the financial services sector. Well-funded marketing campaigns play a critical role in the survival and longevity of these companies in an increasingly competitive industry. Within the foreign exchange market, marketers perform a variety of functions to help acquire, secure or retain customers. In particular, the latest forex brokers also do not have
Marketing is defined as the business process of identifying, anticipating, and satisfying customer needs and desires. This is an important element of any operation or brokerage in the financial services sector. Well-funded marketing campaigns play a critical role in the survival and longevity of these companies in an increasingly competitive industry. Within the foreign exchange market, marketers perform a variety of functions to help acquire, secure or retain customers. In particular, the latest forex brokers also do not have
Read these terms spending and improved user experience.
Strategic Partnerships and Expansion
In 2023, Playtech has made significant progress in its strategic partnerships and expansion efforts. The company has entered into a groundbreaking partnership with Hard Rock Digital and currently operates three US live casino properties licensed in 11 US states. The Americas was Playtech’s biggest growth driver, with sales up 46% to €211.9 million.
“In addition to delivering excellent financial results, the group has made significant strategic and operational progress, including expansion across the United States,” Weizer concluded.