Playtech (LON: PTEC) released an update to the deal on Thursday, revealing it expects to finish fiscal 2022 with an adjusted EBITDA of at least €400 million. The expected figure is 26% higher than the previous year.
The company emphasized that this year’s upturn was due to the performance of both its B2B and Snaitech businesses.
The London-listed company closed the first half of 2022 with revenues of €792.3 million, up 73% year-on-year. In addition, his EBITDA for the period increased by 64% to €203.8 million, with significant growth in the Americas and Europe regions. This indicates that the company expects to end the second half of the year with EBITDA reaching a similar amount.
Check out our latest FMLS22 session “Upstart Products Boosting Your Bottom Line”.
Playtech Simplifies Your Business
Playtech is a well-known provider of online gambling technology. Last year, the company sold his financial arm, Finalto, to Hong Kong-based Gopher Investments in his $250 million cash deal. Playtech called the latest sale a “significant step” in its strategic goal of simplifying the group.
“The sale of Finalto was completed in July 2022. This represents an important step in our strategy to simplify the Group and focus on the high-growth B2B and B2C gambling market,” said Playtech. CEO Mor Weizer said. “We are well positioned to drive sustainable growth and take full advantage of the exciting market opportunities ahead for the benefit of all our stakeholders.”
Meanwhile, Playtech has signed a revised €277 million revolving credit facility until October 2025, with the addition of a one-year extension option. This occurred when the company considered refinancing options for his €530 million senior secured note and revolving credit facility.
Playtech had considered selling the company, but those measures fell through. First, Playtech’s shareholders rejected her £2.7bn takeover offer for Aristocrat Leisure, then his TTB Partners withdrew their interest in the company, citing market conditions.
Playtech (LON: PTEC) released an update to the deal on Thursday, revealing it expects to finish fiscal 2022 with an adjusted EBITDA of at least €400 million. The expected figure is 26% higher than the previous year.
The company emphasized that this year’s upturn was due to the performance of both its B2B and Snaitech businesses.
The London-listed company closed the first half of 2022 with revenues of €792.3 million, up 73% year-on-year. In addition, his EBITDA for the period increased by 64% to €203.8 million, with significant growth in the Americas and Europe regions. This indicates that the company expects to end the second half of the year with EBITDA reaching a similar amount.
Check out our latest FMLS22 session “Upstart Products Boosting Your Bottom Line”.
Playtech Simplifies Your Business
Playtech is a well-known provider of online gambling technology. Last year, the company sold his financial arm, Finalto, to Hong Kong-based Gopher Investments in his $250 million cash deal. Playtech called the latest sale “an important step” in its strategic goal of simplifying the group.
“The sale of Finalto was completed in July 2022. This represents an important step in our strategy to simplify the Group and focus on the high-growth B2B and B2C gambling market,” said Playtech. CEO Mor Weizer said. “We are well positioned to drive sustainable growth and take full advantage of the exciting market opportunities ahead for the benefit of all our stakeholders.”
Meanwhile, Playtech has signed a revised €277 million revolving credit facility until October 2025, with the addition of a one-year extension option. This occurred as the company considered refinancing options for his €530 million senior secured note and revolving credit facility.
Playtech had considered selling the company, but those measures fell through. First, Playtech’s shareholders rejected her £2.7bn takeover offer for Aristocrat Leisure, then his TTB Partners withdrew their interest in the company, citing market conditions.