Trading update

RNS Number : 9756G

Playtech PLC

12 November 2018

 

Playtech plc

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

Trading update

Performance in line with expectations & full-year guidance reiterated

Playtech (LSE: PTEC) today announces its trading statement for the period since 30 June 2018. Overall performance is consistent with the expectations at the time of the half year results announcement in August and the Group remains on track to achieve adjusted EBITDA for 2018 in the range of €320 million to €360 million.

B2B Gaming Division  

Trading in the B2B Gaming Division has continued in line with the trends reported at the interim results in August with good revenue growth outside of Asia. Revenue from Asia has stabilised at an annualised revenue run-rate of approximately €150 million.

B2C Gaming Division

The momentum reported in H1 2018 by Snaitech has continued into the second half of the year with the business continuing to trade in line with the Group's expectations. The remainder of the B2C division also continues to perform in line with the Group's expectations.  

TradeTech Group

TradeTech's underlying KPIs have continued to display positive momentum during the second half of the year, although market movements favoured customers particularly in September and October.

Financial Position

The Group's financial position remains strong. During the period Playtech continued to improve the efficiency of its balance sheet with the sale of its stake in Plus500 and successfully completing a €530 million bond offering. The net proceeds of the offering, together with Playtech's existing cash resources, have been used to repay all amounts outstanding under the bridge facility utilised for the purposes of the acquisition of Snaitech, to fund the redemption of the outstanding high-yield bonds issued by Snaitech and to pay for other transaction-related costs and expenses.

Event for investors and analysts on 14 November 2018

Playtech will be hosting an event for investors and analysts on Wednesday 14 November 2018 in Milan, Italy. The focus of the event will be on Snaitech, the leader in the Italian gaming and betting market which was acquired by the Group earlier this year, with presentations from the Snaitech management team. In addition, there will be presentations from the B2B Gaming business covering Playtech BGT Sports, regulation and Responsible Gambling. 

No new material financial information will be disclosed at the event.

-Ends-

For further information please contact:

Playtech plc

James Newman

Head of Investor Relations & Corporate Communications               [phone]

Headland (PR adviser to Playtech)

Lucy Legh, Stephen Malthouse                                                       [phone]

About Playtech

Founded in 1999 and premium listed on the Main Market of the London Stock Exchange, Playtech is a market leader in the gambling and financial trading industries.

Playtech is the gambling industry's leading technology company delivering business intelligence driven gambling software, services, content and platform technology across the industry's most popular product verticals, including, casino, live casino, sports betting, virtual sports, bingo and poker. It is the pioneer of omni-channel gambling technology through its integrated platform technology, Playtech ONE. Playtech ONE delivers data driven marketing expertise, single wallet functionality, CRM and responsible gambling solutions across one single platform across product verticals and across retail and online.

Playtech partners with and invests in the leading brands in regulated and newly regulated markets to deliver its data driven gambling technology across the retail and online value chain. Playtech provides its technology on a B2B basis to the industry's leading retail and online operators, land-based casino groups and government sponsored entities such as lotteries. As of June 2018, through the acquisition of Snaitech, Playtech directly owns and operates the leading sports betting and gaming brand in online and retail in Italy, Snai. Snaitech operates a B2B2C model as a service provider to franchisees in the retail market while operating the leading brand, Snai directly online as a B2C business.

Playtech's Financials Division, named TradeTech Group, is a technology leader in the CFD and financial trading industry and operates both on a B2C and B2B basis.

Playtech has in total c.5,800 employees across 17 countries and is headquartered in the Isle of Man.

 

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