Strong H1 for Playtech fueled by strategic Snaitech sale

• Gaming technology company makes €91.6 million profit and pays shareholders €1.8 billion after selling Snaitech division
• CEO says company is ahead of targets and ready to grow in Brazil’s new online gambling market and more US states
• Business now focuses entirely on providing software and services to gambling companies rather than running its own betting sites

Playtech’s transformation from a sprawling gaming conglomerate into a focused B2B technology powerhouse is paying dividends, with CEO Mor Weizer declaring “strong momentum” for the remainder of 2025 after the company’s strategic €2.3 billion Snaitech disposal.

The gaming technology firm sold its Italian gambling operation Snaitech to Flutter Entertainment in April and immediately handed €1.8 billion to investors through a special payout. This massive cash return helped transform Playtech’s finances, moving from owing €225.5 million in debt to having €77.1 million in the bank.

“The second half of the year has started well, and we are on track to be ahead of expectations for the year,” said Mor Weizer, Chief Executive Officer.

His confidence comes from Playtech’s smart positioning in two rapidly growing markets where online gambling is either brand new or still expanding state by state.

Brazil represents the bigger opportunity. The country legalised online gambling in January 2025, creating what experts expect to become one of the world’s largest markets. Playtech is moving fast to capture market share, planning to open a live casino studio in São Paulo and hiring more than 100 local employees by the end of this year.

The company already has strong momentum in North America, where revenue jumped 64% compared to last year. Playtech now operates in four US states for online gambling and runs more than 50 live dealer tables across three American studios. Each new state that legalises online gambling represents millions of potential new customers.

While overall revenue fell 10% to €387 million, this mainly reflects changes to a deal with Mexican partner Caliente Interactive rather than underlying business problems. The company restructured this relationship in March, taking a 30.8% ownership stake in Caliente instead of receiving direct payments. This partnership approach could become a template for other fast-growing markets.

“We are pleased with the financial performance in this period, with the Group delivering H1 2025 Adjusted EBITDA of €91.6 million, ahead of expectations,” Weizer added.

The results show a business successfully transitioning from owning gambling sites to purely providing technology services to other operators.

Playtech’s software-as-a-service revenue surged 73% to €57.3 million, demonstrating strong demand for its technology platforms. The company operates more than 470 live casino tables across 15 studios worldwide, providing real dealers for online players. European markets outside the UK grew 4%, driven by strong performance in Poland and Spain.

The business deliberately wound down some operations, with consumer-facing revenue falling 17% to €41 million as it exits the German market. This reflects Playtech’s strategic shift away from competing with its own customers towards being a pure technology provider.

With 7,400 employees across 20 countries, Playtech now has the financial firepower and market positioning to capitalise on gambling regulation in major new markets. The company’s ability to quickly establish local operations and its proven technology platform give it significant advantages as Brazil opens up and more US states consider legalisation.