Playtech has reported strong revenue expansion in its 2024 financial report. This growth was driven by continued expansion in its B2B operations.
By 5% to €1.79 billion in a transformative 2024, the revenue of the online gaming supplier rose. This saw it resolve its dispute with Caliplay, a long-standing partner, and agree to sell its Italian B2C unit Snaitech.
The B2B segment of the company experienced significant growth during the year. Adjusted EBITDA increased by 22% to €222 million.
Yet, reported post-tax losses amounted to €23.9 million, representing a sharp drop from the €105.1 million post-tax profit in 2023. The company ascribed this to higher impairment charges and tax asset derecognition.
Moreover, it confirmed that the sale of Snaitech is on track for completion in the second quarter of the year.
Mor Weizer, CEO of Playtech said that 2024 was a landmark year for Playtech. They successfully agreed to sell Snaitech to Flutter Entertainment, delivering significant value to shareholders. This move allows Playtech to refocus on its core strengths as a pure-play B2B business.
He added that they are pleased to have secured a revised strategic deal with Calipay, their partner in Mexico. This agreement provides greater certainty and a strong foundation for future growth.
With revenue in the Americas region increasing by 19% to €251.6 million, it led the B2B expansion there. On the other hand, the US and Canadian markets were also strong, posting a 126% revenue transition highlighted as bright spots.
The live casino of the company revenue also increased by 24% in regulated markets. Meanwhile, its SaaS (software-as-a-service) business reached the top end of its target range ahead of schedule. It grew 59% to €80 million.
Weizer added that their core B2B business had an outstanding year. It achieved the medium-term target set two years ago ahead of schedule.
