Playtech sees exceptional American growth across 2021
European company sees expansion in both the US and Latin America.
It has become evident that the American market has become a primary revenue vehicle for Playtech after the European company posted its annual results for the year ending December 31, 2021.
The year saw much growth in the US market as well as the laying of a foundation in Latin America.
All told, revenue in the Western Hemisphere grew by 64% when compared to 2020. Much of this growth was driven by the group’s B2B offerings.
Among the US highlights were the following: a launch with Parx Casino in Michigan, New Jersey and Pennsylvania; Live Casino debuts in Michigan and New Jersey; and licenses granted in Arizona, Mississippi and Pennsylvania.
Among the Latin American highlights were new agreements launched in Costa Rica, Panama and Brazil, as well as strong growth both for Mexico’s Caliente and Colombia’s Wplay.
The company had a strong performance overall: adjusted EBITDA came to €317.1m ($348m), which was a significant improvement over the €253.6m of 2020. Revenue, too, grew by 12% to €1.21bn.
In other highlights, the Board saw a new chairman take his place: Brian Mattingly assumed office on June 1 of last year. As well, another area of strength for the company was its Italian B2C offering, Snaitech.
The annual report also stresses continued optimism for the coming year for both Playtech’s B2B and B2C platforms.
Group CEO Mor Weizer commented on the sound American performance: “Our full year results demonstrate the quality of Playtech’s technology and the momentum across the Group. Our strong performance is underpinned by our B2B business, in particular the tremendous growth we have seen in the Americas.
“We have made real progress in the execution of our US strategy, supported by new licenses, new launches and new partnerships, and we continue to go from strength to strength in Latin America, buoyed by new strategic agreements across the region.”
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