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Playtech Registered a Great Profit Increase in 2022

Playtech Registered a Great Profit Increase in 2022

05/04/2023
The provider highlighted the intensive development of the B2B field and its Snaitech business in 2022. The branch grew strongly, recording a 33% increase in turnover accounting for EUR 1.6 billion.

Playtech profit in 2022: B2B and B2C

Adjusted EBITDA reached EUR 405.6 million. However, the actual gain dropped to a little over EUR 40 million, a 94% decrease. This loss was due to an unrealised value gain in the group’s assets of 2021, which impacted the next year as well. Nevertheless, the brand praised its other financial results and is set to continue further growth.

Words of Playtech's CEO

Mor Weizer stated that success was achieved from the cooperation of various business arms. 2022 proved to be a period of evolution for the group, in which it reached record-breaking leads far beyond expectations.

In particular, the increase was due to B2B operations in the following regions:

  • North America;
  • South America;
  • Europe (except for the UK).

The segment development occurred regardless of the war in Ukraine. There are over 700 employees in the country, equaling 1/10 of the company's total number of staff. Playtech's CEO praised the courage of Ukrainian employees and the effectiveness of a crisis management department.

Growth in the B2C sector reached a remarkable milestone, as Snaitech's development supported it. A 54% increase in this segment was recorded in comparison to 2021. Profits rose to almost EUR 900 million.

Growth Figures: Geographical Aspects

In Europe, turnover grew by 31% to almost EUR 185 million. The figures shown in the Netherlands mainly stimulated revenue increase.

Mr Weizer also emphasised the importance of different markets, in particular:

  • Ireland;
  • Spain;
  • Poland.

In South and North America, growth was also significant. The turnover achieved almost EUR 145 million, which indicates an increase of 27% compared to 2021. Considerable evolution was completed in the Brazilian and Mexican markets. The company members confirmed that they attained remarkable results in the US mainly thanks to deals made in 2021.

Mor Weizer explained that the firm accomplished many strategic goals, including a simplification campaign and the sale of its financial trading branch Finalto. Excellent results were also reached due to the cooperation with Parx Casino.

The provider has also signed other agreements with such brands:

  • 888;
  • WynnBet;
  • Golden Nugget, etc.

Playtech’s professionals are confident in their high potential and continue to improve earnings for investors.

Expenses Data

Costs also increased in 2022. In the B2B field, they rose 14% to EUR 472 million.

The statistics by expenditures in different fields:

  • research and development — a 12% increase to EUR 87.5 million;
  • general aspects and administration — a 23% growth to EUR 82.6 million;
  • sales and marketing — a 16.8% rise to EUR 16.8 million;
  • operations — an 11% enlargement to EUR 285.2 million.

The same expansion applies to the B2C Snaitech subsidiary, which increased its expenses by 61% (EUR 254.2 million). This change was due to the reopening of retail activities. Sun Bingo and HappyBet also had their costs growing.

Buy or rent Playtech’s profitable solutions at Gaminator. Contact our managers to install top games and administrative software from famous providers.

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Artur Zimnij
Author
Artur Zimnij
Gambling business specialist
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