This morning, Playtech PLC’s leadership team gathered to discuss the company’s remarkable second-quarter performance. CEO Moran Weizer kicked off the call, expressing gratitude to attendees and acknowledging the excitement surrounding recent developments.
Weizer highlighted the company’s impressive financial achievements, showcased on Slide 2. He then handed the reins to CFO Chris McGinnis, who delved into the financial details and provided an outlook for the future. Weizer later returned to update investors on the company’s strategic progress.
As outlined on Slide 3, Playtech’s first-half 2024 results were nothing short of exceptional. The company reported an 11% increase in adjusted EBITDA, reaching EUR243 million and exceeding expectations. This success was largely driven by the B2B division, which saw a remarkable 38% growth in adjusted EBITDA. The Americas region emerged as a standout performer.
Given the strong first-half results, the B2B segment is poised to meet its medium-term adjusted EBITDA target range of EUR200 million to EUR250 million in 2024, a goal set just 18 months prior.
Weizer also addressed two significant announcements made in recent weeks. The revised strategic agreement with Caliplay marks a new era of cooperation and paves the way for growth in both domestic and international markets. Additionally, the company finalized the sale of Snaitech to Flutter for a total enterprise value of EUR2.3 billion, a transaction that will have a profound impact on Playtech’s future.
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