Playtech Shares Trading Update, Enjoys Strong Online Performance in H1 2021

Playtech enjoys strong performance for H1 2021, according to a trading update released today. With very strong performance in the first half of the year, the company plans to keep the momentum until the end of the year and beyond.

Playtech Reports Strong Results for H1, 2021

In a trading update, Playtech plc, the gambling technology leader, revealed that it observed a strong H1 2021. The company outlined that it has performed in line with its expectations since the update it issued on May 26, 2021. For the period from January 1 to June 30, 2021, Playtech has seen a continuous strong performance of its online assets. The positive momentum was further boosted by the retail sector in Italy, which reopened from mid-June.

The Company Hopes to Keep the Positive Momentum

The company acknowledged that the H1 results were in line with the expectations, despite the “different mix of contributions than originally anticipated.” Playtech revealed that its B2B online collaborations, such as those with Caliente Mexico and Snaitech, showed strong performance in H1 2021.

“Playtech has performed in line with its expectations since its trading update on 26 May 2021 as its online businesses continued to perform very strongly and retail in Italy began to reopen from mid-June.”

Playtech plc

This, according to the company, has offset the impact of the longer retail closures in Italy. On the other hand, Playtech businesses in Asia remained stable in H1, in line with the levels reached in H2 2020, the company explained. Acknowledging that the COVID-19 pandemic continues to pose challenges and bring uncertainty but taking into consideration the strong H1 performance, Playtech’s Board predicts that the company will keep the momentum for the full 2021 and beyond.

Market Growth Remains a Top Priority

Besides the strong results in H1 2021, Playtech revealed that it continues to progress on its strategic and operational objectives. Such objectives include growth in the US, European and Latin American markets. In Europe, the company inked a strategic agreement with Holland Casino.

Moreover, Playtech inked a strategic multi-state, multi-product deal with Greenwood companies that operate the Parx Casino and consequently, launched its services in Michigan. Entering additional states is planned for this year and next year as well.

The company highlighted its global distribution agreement with Scientific Games, which was inked last week. It aims at solidifying the presence of the two companies as global leaders and explores new market opportunities.