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Velimir Velichkov May 24, 2023 3 min read
Playtech Reports Strong Start of 2023 with B2B and B2C Growth
The recent trading update confirms that the company kept the positive momentum gained from last year into 2023
The leading supplier of online gaming software, Playtech, released a new trading update, unveiling details regarding the company’s performance between January 1 and April 30, 2023. In its new trading update, the company acknowledged it has seen strong growth within its two main operating segments, business-to-customer (B2C) and business-to-business (B2B), for the first four months of the year.
In light of the results, Playtech revealed that it anticipates adjusted EBITDA for 2023 to be “slightly ahead of current consensus expectations.” The company explained that the results represent a strong start of the year and in fact, continue the positive momentum gained in 2022. Additionally, Playtech’s Board confirmed that it remains confident the company will continue to grow its B2C and B2B divisions.
Besides the strong performance in the first four months, the company acknowledged strategic upcoming changes to its Board. As previously announced, Playtech confirmed that Ruby Yam will join its Board as an independent non-executive director. This appointment, the company said, is applicable starting from June 1, 2023.
“I am delighted to report that our strong start to the year has continued, with growth across both the B2B and B2C divisions.“Mor Weizer, CEO at Playtech
Mor Weizer, Playtech’s CEO, shared his excitement about the recent results. He spoke about the growth within the company’s B2C and B2B segments. Finally, Weizer explained: “Our strategy of focusing on regulated or soon-to-be regulated markets, combined with Snaitech’s impressive performance in Italy, means we remain well-positioned to make further progress and capitalize on the significant growth opportunities ahead.”
The Company Enjoys Strong B2C and B2B Divisions’ Growth
According to the recent trading update, Playtech’s B2C division performed exceptionally well at the start of the year. The company outlined that the growth was driven by Snaitech, while an increase in demand combined with the football sports events following the World Cup contributed to the strong results. Both the retail and online B2C verticals enjoyed stellar performance for the first four months of this year, said Playtech.
Similarly, the B2B segment also enjoyed a strong start to the year. In its trading update, Playtech said that this growth was primarily “driven by regulated markets.” Additional details released by the company pointed to its B2B growth in Latin America, impacted positively by the growing position of Caliente in markets such as Mexico.
Growth was also observed within the United States, which is a significantly important market for North America. Earlier this year, Playtech accelerated its US growth strategy via a deal with Hard Rock Digital. Given the results, the company will likely continue to grow in strategic markets and expand further its global footprint.
William Velichkov is a research-driven writer. His strengths lie in ensuring factual accuracy, vetting government documentation and reaching out to regulators and other officials. He is particularly fond of financial reporting, the sports betting industry, B2B partnerships and esports betting developments. William is a strong asset to the GamblingNews team as he adds a bedrock to our reporting.