American revenue grows 106% as Playtech reveals H1 results
Period saw the company launch with Parx in Michigan and sign new strategic partnership with Scientific Games.
Gaming technology company Playtech has today announced its financial results for the period ending June 30, 2021.
H1 saw the Americas become the company’s biggest growth driver as revenue grew 106% year-on-year. Specifically, revenue came in at $54.4m compared to 2020’s $26.8m. This growth was led by a launch with Parx Casino in Michigan; new partnerships with Scientific Games and Novomatic alongside continued progress with bet365 and BetMGM in New Jersey and recovery from the Covid19 pandemic.
Latin America was also a key area of growth for Playtech, as the company expanded its presence in Mexico and launched in Costa Rica and Panama.
“I am delighted by our strong strategic and operational progress to date in 2021, despite the ongoing challenges posed by the pandemic. These results demonstrate the quality of our technology and products, the significant progress made against our strategic priorities, and wider momentum across Playtech’s operations,” said Playtech CEO, Mor Weizer.
“Significant progress in the US saw Playtech launch for the first time in Michigan, the first step in our long-term multi-state partnership with Parx Casino, and regulatory approvals progressed in key strategic states. Structured agreements continue to deliver in Latin America, with strong growth in H1 in Mexico and Colombia and launches in Panama and Costa Rica.”
The period also saw Brian Mattingley join the company as chairman on 1 June 2021. Further appointments included Linda Martson-Weston, who will take on the role of non-executive director from October 1, and Ian Penrose as senior independent director.
Globally, adjusted EBITDA grew 13% to $145.5m, while the company’s post-tax profit rose 1460% to $64.1m.
Speaking on the future, Weizer said: “Looking forward, given the strong H1 performance, the momentum in the business and the easing of lockdown restrictions, we are confident of Playtech’s prospects for the remainder of 2021 and beyond.”
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