Trading update

RNS Number : 3626V

Playtech PLC

02 November 2017

 

Playtech plc

('Playtech' or 'the Company' or 'the Group')

Trading update

Playtech (LSE: PTEC) is today providing an update on trading in H2 2017 to date ahead of its event for investors and analysts being held on 14 November 2017.

Trading update

As expected, daily average revenues in the Gaming division accelerated following the interim results in late August.

However, although daily average revenues in the Gaming division are currently higher than those reported at the time of the interim results, the Sun Bingo contract remains challenging due to lengthier seasonality and the re-launch of the new Sun Bingo site, and moreover there has been an impact from recent changing market conditions in certain parts of Asia.  

Tradetech Group, Playtech's Financials division, is performing in line with our expectations, with continued growth in underlying KPIs. TradeTech Alpha is already making a positive contribution since the acquisition of ACM assets on 1 October 2017.

Asia

Playtech has seen a recent slowdown in certain parts of Asia due to recent changing market conditions. Whilst it had been expected that activity would return to normalised levels in a relatively short timeframe, we are now not expecting any significant improvement in 2017.

In response to the recent changes, Playtech will continue to support its partners in Asia whilst continuing to increase its exposure in key regulated markets.

Outlook and strategy

Playtech's non-Asian B2B business continues to perform broadly in line with expectations, with organic growth supplemented by acquisitions made in 2016 and 2017. With the impact of certain Asian markets and Sun Bingo performance taken into account we now believe the Group's performance for the full year will be around 5% below the bottom end of market expectations.

Playtech will continue its strategy of focusing on both organic and inorganic revenue growth in regulated and to-be-regulated markets.  The M&A pipeline remains very strong and the Company is in active discussions with a range of Gaming businesses consistent with executing this strategy and with the expectation that the relative contribution from Asia to the Group will consistently reduce over time.

Event for investors and analysts on 14 November 2017

Playtech will be hosting an event for investors and analysts on Tuesday 14 November 2017 at the site of its new Live Casino studio in Riga, Latvia. No new material information will be disclosed at the event.

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The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

For further information, contact:

Playtech plc Mor Weizer, Chief Executive Officer Andrew Smith, Chief Financial Officer c/o Buchanan Communications James Newman, Head of Investor Relations	[phone]  [phone]
Buchanan Communications David Rydell, Steph Watson, Jamie Hooper, Tilly Abraham	[phone]

About Playtech

Playtech is a market leader in the gambling and financial trading industries. Founded in 1999 and listed on the Main Market of the London Stock Exchange, Playtech has more than 5,000 employees in 17 countries.

Playtech is the gambling industry's leading software and services supplier with more than 140 licensees globally, including many of the world's leading regulated online, retail and mobile operators, land-based casino groups, government sponsored entities such as lotteries, and new entrants opening operations in newly-regulated markets. Its business intelligence-driven gambling software offering includes casino, live casino, bingo, poker and sports betting.

It is the pioneer of Omni-channel gambling which, through Playtech ONE, offers operators and their customers, a seamless, anytime, anywhere experience across any product, any channel (online, mobile, retail) and any device using a single account and single wallet. It provides marketing expertise, sophisticated CRM solutions and other services for operators seeking a full turnkey solution.

Playtech's Financials division operates both on a B2C and B2B basis. Its B2C focused offering is an established and growing online CFDs broker, operating the brand markets.com. Its B2B offering includes the division's proprietary trading platform, CRM and back-office systems, as well as its liquidity technology platform which provides retail brokers with multi-asset execution, prime brokerage services, liquidity and complementary risk management tools.

www.playtech.com 

 

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