Playtech posts a record FY22 revenue of €1.6bn
A Company Record
Playtech has reported full-year revenue of €1.6bn for 2022, which is a year-on-year increase of 33% when compared to the €1.2bn gained in 2021.
The adjusted EBITDA was 28% of YoY to €4.5.6m or 22% in cc, while the adjusted post-tax profit increased by 26% from €127.6m to €160.5m.
The company’s B2B also accounted for €632.4m of group revenue, which is a YoY increase of 14%. The B2B adjusted EBITDA has also increased from €139.2m to €160.2m, which the company has also praised considering that 10% of Playtech’s workforce is currently based in Ukraine.
The B2B revenue in Europe (bar the United Kingdom), also increased 31% on a cc basis, reaching a massive €184.6m. This sum was boosted by the Netherlands along with contributions from Spain, Poland and Ireland.
The Americas also performed well for this software game developer, with revenue increasing 27% on a cc basis, reaching an impressive €144.7m. This boost was attributed to a specific Mexican operator as well as its strong performance in Brazil, where the supplier also states that the success in the South American nation is giving it significant opportunities going forward.
The only region, where the company saw a decline was Asia, where the revenue fell 18% YoY due to pressures and lockdowns in the region in 2022. Playtech also mentioned that a bad debt provision of €15.4 also hit the first in the first quarter of 2022.
Mor Weizer, CEO of Playtech, said: “2022 was a year of considerable strength for Playtech in which we delivered record revenues and EBITDA, ahead of market expectations. All parts of the business contributed to this performance, with B2B powered by Europe (ex-UK) and the Americas and B2C’s impressive performance underpinned by Snaitech’s continued strength in the Italian market in both retail and online.
“Strategically, we have also continued to deliver, executing the successful sale of Finalto continuing our simplification strategy, and making great progress in North America with the launch of the IMS platform with Parx Casino in Pennsylvania and having signed several significant new deals, including Golden Nugget, WynnBET, Resorts and 888.”