Playtech plc has released its progress update for the first four months of this year. The company reported a strong start to the year that has continued through the month of April.
The updated report reflects an adjusted EBITDA for the first quarter of more than $105.5m.
Both B2B and B2C businesses have attributed to the company’s overall performance for the fiscal year, according to the report. This is largely due to rising market trends throughout North America.
Since the first of the year, the company has signed multiple deals in the US and launched several new partnerships in Canada following the opening of the Ontario market last month.
Online gaming in Ontario has been live since April 4. Local lotteries have traditionally dominated Canada’s gambling sector in the past. According to H2 Gambling Capital, Canada’s combined online sports betting and iCasino markets in 2022 are estimated at more than $2bn.
Ontario is projected to become one of North America’s largest iGaming markets once open.
Playtech also recently signed a strategic partnership with Canadian online casino and sports wagering company, NorthStar. The partnership came weeks after the launch of Playtech’s live casino facilities in two US states. Its intention is to next expand into other international markets.
Under the terms of the agreement, the supplier will provide its IMS platform for use across all of NorthStar Gaming's platforms, in accordance with the terms of the contract.
Playtech CEO Mor Weizer commented: "Our success is driven by strategic partnerships with industry-leading operators around the world and we are excited to partner with a leading entertainment company like NorthStar Gaming.”
