Playtech plc (LSE: PTEC) announced today (Monday) that it expects its full-year 2024 adjusted EBITDA to surpass current consensus expectations, driven by robust performance in its B2B division during the first half of the year. In addition, the company has reached a new agreement with its current partner, Caliplay.

Playtech Reports Strong H1 2024 Performance

The London-listed company reported solid trading for the period from January 1 to June 30, 2024, with continued growth trends noted in its May AGM statement. Playtech's B2B segment showed particular strength, benefiting from revenue growth in the Americas and tighter cost control measures.

In its B2C division, Snaitech continued to see underlying growth in wagers, despite facing headwinds from customer-friendly sporting results in Italy. Playtech also confirmed ongoing discussions with Flutter regarding the potential sale of Snaitech, though no definitive agreement has been reached.

However, detailed figures were not provided in the latest trading update. These will be presented on September 30, when the report for H1 2024 is published. The company's previous full metrics were released in March, when it reported financial results for 2023, showing adjusted revenue grew 7%, and EBITDA increased 9% to €423.3 million compared to 2022.

Revised Caliplay Agreement

In a separate announcement, Playtech revealed a revised strategic agreement with Caliplay, a subsidiary of Corporación Caliente. Under the new terms, Playtech will hold a 30.8% equity stake in Caliente Interactive, Inc., the new U.S.-incorporated holding company for Caliplay. The deal also includes a renewed eight-year B2B software license and services agreement, along with an additional $140 million cash payment to Playtech over four years.

“During the past nine years, we have worked closely with Caliplay to create a successful and rapidly growing digital business in Mexico,” Mor Weizer, CEO of Playtech, said. “The revised arrangements mark the beginning of an exciting new chapter that will build on the impressive progress to date, with a view to driving significant further growth for Cali Interactive in the future.”

Playtech confirmed that Caliplay has resumed paying software and services fees, with over €150 million of previously unpaid fees now received. The company also reported strong performance from Caliplay in the first half of 2024.