The company reported an increase of 8% in revenue and 19% EBITDA.
Playtech's CEO forecasts higher-than-expected results for the full FY23.
After a
strong 2022, London-listed Playtech (LSE: PTEC) has presented equally strong
preliminary revenue results for H1 2023. According to today's
(Thursday) report, adjusted revenues amounted to €859.6 million, growing by 8%
compared to last year.
Playtech Reports Strong H1 2023
Playtech, a
frontrunner in the financial trading industry, has shown significant growth,
particularly in EBITDA, and is on track to outperform expectations for the entire
year. The company's EBITDA saw a substantial rise of 19%, amounting to €207.3
million. Adjusted EBITDA rose to a record-high €219.9 million, increasing 10%
compared to €199.1 million which was reported a year ago.
"We
delivered our highest ever Adjusted EBITDA in the first half of 2023,
demonstrating the benefits of the continued strategic and operational progress
made in recent years," Mor Weizer, the CEO of Playtech, commented. "I
would like to thank all our colleagues for their hard work and support in
making this possible."
The company
reported an increase of 8% in revenue, reaching €859.6 million, compared to €792.3
million in the same period in 2022. However, despite the strong revenue and
EBITDA, the post-tax profit showed a visible decline, standing at €85.7 million
compared to €94.3 million in H1 2022. This drop is attributed to changes in the
fair value of derivative financial assets and deferred tax assets.
On a
brighter note, the company reduced its net debt by 50%, bringing it down to
€248.2 million. Playtech shares have strengthened since the morning in response
to the positive results, rising by nearly 3% on the London Stock Exchange to 540
pence.
In the financial year 2022, Playtech saw an increase of 33% in its revenue, reaching €1.6 billion. This growth was primarily fueled by its robust B2B operations and the impressive results from its subsidiary, Snaitech. When evaluated in terms of constant currencies, the revenue growth stood at 31%. The firm disclosed that it amassed €632.4 million in B2B revenue from regulated markets, marking an uptick of 14% compared to the year before. Additionally, its B2C revenue, encompassing both Snaitech and white-label services, surged 48%, totaling €983.1 million.
Playtech. Source: Google
Focus on Regulated Markets
and Future Outlook
Playtech's
B2B division showed an increase of 7% in revenue, largely driven by its focus on
regulated markets. The Americas emerged as the standout region, with growth of 43% in revenue. The company also made significant strides in the US market,
securing licenses in Ohio, Maryland, and West Virginia.
Playtech is
optimistic about the second half of 2023, maintaining its medium-term EBITDA
targets for its B2B and B2C divisions. The company's balance sheet and current cash generation allow it to pursue both organic and
inorganic growth opportunities.
"We
have started the second half of the year well and are on track to deliver FY23
Adjusted EBITDA slightly ahead of current expectations. With our proven
strategy, robust balance sheet and operational expertise, we are confident in
our ability to capitalize on the many growth opportunities ahead," Weizer
added.
After a
strong 2022, London-listed Playtech (LSE: PTEC) has presented equally strong
preliminary revenue results for H1 2023. According to today's
(Thursday) report, adjusted revenues amounted to €859.6 million, growing by 8%
compared to last year.
Playtech Reports Strong H1 2023
Playtech, a
frontrunner in the financial trading industry, has shown significant growth,
particularly in EBITDA, and is on track to outperform expectations for the entire
year. The company's EBITDA saw a substantial rise of 19%, amounting to €207.3
million. Adjusted EBITDA rose to a record-high €219.9 million, increasing 10%
compared to €199.1 million which was reported a year ago.
"We
delivered our highest ever Adjusted EBITDA in the first half of 2023,
demonstrating the benefits of the continued strategic and operational progress
made in recent years," Mor Weizer, the CEO of Playtech, commented. "I
would like to thank all our colleagues for their hard work and support in
making this possible."
The company
reported an increase of 8% in revenue, reaching €859.6 million, compared to €792.3
million in the same period in 2022. However, despite the strong revenue and
EBITDA, the post-tax profit showed a visible decline, standing at €85.7 million
compared to €94.3 million in H1 2022. This drop is attributed to changes in the
fair value of derivative financial assets and deferred tax assets.
On a
brighter note, the company reduced its net debt by 50%, bringing it down to
€248.2 million. Playtech shares have strengthened since the morning in response
to the positive results, rising by nearly 3% on the London Stock Exchange to 540
pence.
In the financial year 2022, Playtech saw an increase of 33% in its revenue, reaching €1.6 billion. This growth was primarily fueled by its robust B2B operations and the impressive results from its subsidiary, Snaitech. When evaluated in terms of constant currencies, the revenue growth stood at 31%. The firm disclosed that it amassed €632.4 million in B2B revenue from regulated markets, marking an uptick of 14% compared to the year before. Additionally, its B2C revenue, encompassing both Snaitech and white-label services, surged 48%, totaling €983.1 million.
Playtech. Source: Google
Focus on Regulated Markets
and Future Outlook
Playtech's
B2B division showed an increase of 7% in revenue, largely driven by its focus on
regulated markets. The Americas emerged as the standout region, with growth of 43% in revenue. The company also made significant strides in the US market,
securing licenses in Ohio, Maryland, and West Virginia.
Playtech is
optimistic about the second half of 2023, maintaining its medium-term EBITDA
targets for its B2B and B2C divisions. The company's balance sheet and current cash generation allow it to pursue both organic and
inorganic growth opportunities.
"We
have started the second half of the year well and are on track to deliver FY23
Adjusted EBITDA slightly ahead of current expectations. With our proven
strategy, robust balance sheet and operational expertise, we are confident in
our ability to capitalize on the many growth opportunities ahead," Weizer
added.
Damian's adventure with financial markets began at the Cracow University of Economics, where he obtained his MA in finance and accounting. Starting from the retail trader perspective, he collaborated with brokerage houses and financial portals in Poland as an independent editor and content manager. His adventure with Finance Magnates began in 2016, where he is working as a business intelligence analyst.
“MENA’s Digital Banking Challenge Isn’t Demand; It’s the Restrictive Infrastructure,” Jas Shah at FMLS:25
Executive Interview | Charlotte Bullock | Chief Product Officer, Bank of London | FMLS:25
Executive Interview | Charlotte Bullock | Chief Product Officer, Bank of London | FMLS:25
In this interview, we sat down with Charlotte Bullock, Head of Product at The Bank of London, previously at SAP and now shaping product at one of the sector’s most ambitious new banking players.
Charlotte reflects on the Summit so far and talks about the culture inside fintech banks today. We look at the pressures that come with scaling, and how firms can hold onto the nimble approach that made them stand out early on.
We also cover the state of payments ahead of her appearance on the payments roundtable: the blockages financial firms face, the areas that still need fixing, and what a realistic solution looks like in 2026.
In this interview, we sat down with Charlotte Bullock, Head of Product at The Bank of London, previously at SAP and now shaping product at one of the sector’s most ambitious new banking players.
Charlotte reflects on the Summit so far and talks about the culture inside fintech banks today. We look at the pressures that come with scaling, and how firms can hold onto the nimble approach that made them stand out early on.
We also cover the state of payments ahead of her appearance on the payments roundtable: the blockages financial firms face, the areas that still need fixing, and what a realistic solution looks like in 2026.
In this conversation, we sit down with Drew Niv, CSO at ATFX Connect and one of the most influential figures in modern FX.
We speak about market structure, the institutional view on liquidity, and the sharp rise of prop trading, a sector Drew has been commenting on in recent months. Drew explains why he once dismissed prop trading, why his view changed, and what he now thinks the model means for brokers, clients and risk managers.
We explore subscription-fee dependency, the high reneging rate, and the long-term challenge: how brokers can build a more stable and honest version of the model. Drew also talks about the traffic advantage standalone prop firms have built and why brokers may still win in the long run if they take the right approach.
In this conversation, we sit down with Drew Niv, CSO at ATFX Connect and one of the most influential figures in modern FX.
We speak about market structure, the institutional view on liquidity, and the sharp rise of prop trading, a sector Drew has been commenting on in recent months. Drew explains why he once dismissed prop trading, why his view changed, and what he now thinks the model means for brokers, clients and risk managers.
We explore subscription-fee dependency, the high reneging rate, and the long-term challenge: how brokers can build a more stable and honest version of the model. Drew also talks about the traffic advantage standalone prop firms have built and why brokers may still win in the long run if they take the right approach.
Executive Interview | Remonda Z. Kirketerp Møller| CEO & Founder Muinmos | FMLS:25
Executive Interview | Remonda Z. Kirketerp Møller| CEO & Founder Muinmos | FMLS:25
In this interview, Remonda Z. Kirketerp Møller, founder of Muinmos, breaks down the state of AI in regtech and what responsible adoption really looks like for brokers. We talk about rising fragmentation, the pressures around compliance accuracy, and why most firms are still in the early stages of AI maturity.
Ramanda also shares insights on regulator sandboxes, shifting expectations around accountability, and the current reality of MiCA licensing and passporting in Europe.
A concise look at where compliance, onboarding, and AI-driven processes are heading next.
In this interview, Remonda Z. Kirketerp Møller, founder of Muinmos, breaks down the state of AI in regtech and what responsible adoption really looks like for brokers. We talk about rising fragmentation, the pressures around compliance accuracy, and why most firms are still in the early stages of AI maturity.
Ramanda also shares insights on regulator sandboxes, shifting expectations around accountability, and the current reality of MiCA licensing and passporting in Europe.
A concise look at where compliance, onboarding, and AI-driven processes are heading next.
In this conversation, we speak with Aydin Bonabi, CEO and co-founder of Surveill, a firm focused on fraud detection and AI-driven compliance tools for financial institutions.
We start with Aydin’s view of the Summit and the challenges brokers face as fraud tactics grow more complex. He explains how firms can stay ahead through real-time signals, data patterns, and early-stage detection.
We also talk about AI training and why compliance teams often struggle to keep models accurate, fair, and aligned with regulatory expectations. Aydin breaks down what “good” AI training looks like inside a financial environment, including the importance of clean data, domain expertise, and human oversight.
He closes with a clear message: fraud is scaling, and so must the tools that stop it.
In this conversation, we speak with Aydin Bonabi, CEO and co-founder of Surveill, a firm focused on fraud detection and AI-driven compliance tools for financial institutions.
We start with Aydin’s view of the Summit and the challenges brokers face as fraud tactics grow more complex. He explains how firms can stay ahead through real-time signals, data patterns, and early-stage detection.
We also talk about AI training and why compliance teams often struggle to keep models accurate, fair, and aligned with regulatory expectations. Aydin breaks down what “good” AI training looks like inside a financial environment, including the importance of clean data, domain expertise, and human oversight.
He closes with a clear message: fraud is scaling, and so must the tools that stop it.
Exness expands its presence in Africa: Inside our interview with Paul Margarites in Cape Town
Exness expands its presence in Africa: Inside our interview with Paul Margarites in Cape Town
Finance Magnates met with Paul Margarites, Exness regional commercial director for Sub-Saharan Africa, during a visit to the firm’s office opening in Cape Town. In this talk, led by Andrea Badiola Mateos, Co-CEO at Finance Magnates, Paul shares views on the South African trading space, local user behavior, mobile trends, regulation, team growth, and how Exness plans to grow in more markets across the region. @Exness
Read the article at: https://www.financemagnates.com/thought-leadership/exness-expands-its-presence-in-africa-inside-our-interview-with-paul-margarites/
#exness #financemagnates #exnesstrading #CFDtrading #tradeonline #africanews #capetown
Finance Magnates met with Paul Margarites, Exness regional commercial director for Sub-Saharan Africa, during a visit to the firm’s office opening in Cape Town. In this talk, led by Andrea Badiola Mateos, Co-CEO at Finance Magnates, Paul shares views on the South African trading space, local user behavior, mobile trends, regulation, team growth, and how Exness plans to grow in more markets across the region. @Exness
Read the article at: https://www.financemagnates.com/thought-leadership/exness-expands-its-presence-in-africa-inside-our-interview-with-paul-margarites/
#exness #financemagnates #exnesstrading #CFDtrading #tradeonline #africanews #capetown
