Canada markets open in 6 hours 14 minutes
  • S&P/TSX

    20,277.41
    +56.92 (+0.28%)
     
  • S&P 500

    3,957.63
    -6.31 (-0.16%)
     
  • DOW

    33,852.53
    +3.07 (+0.01%)
     
  • CAD/USD

    0.7372
    +0.0007 (+0.10%)
     
  • CRUDE OIL

    78.97
    +0.77 (+0.98%)
     
  • BTC-CAD

    22,933.16
    +496.46 (+2.21%)
     
  • CMC Crypto 200

    401.63
    +12.91 (+3.32%)
     
  • GOLD FUTURES

    1,769.30
    +5.60 (+0.32%)
     
  • RUSSELL 2000

    1,836.55
    +5.59 (+0.31%)
     
  • 10-Yr Bond

    3.7480
    0.0000 (0.00%)
     
  • NASDAQ futures

    11,551.50
    +26.75 (+0.23%)
     
  • VOLATILITY

    21.89
    -0.32 (-1.44%)
     
  • FTSE

    7,547.98
    +35.98 (+0.48%)
     
  • NIKKEI 225

    27,968.99
    -58.85 (-0.21%)
     
  • CAD/EUR

    0.7117
    -0.0009 (-0.13%)
     

Playtech Reports Jump in HY Core Profit

By Scott Kanowsky

Investing.com -- Playtech Plc (LON:PTEC) posted a rise in adjusted core profit in the first half thanks in part to strength at the gambling technology firm's business-to-business operations and its Italian unit, but flagged possible economic headwinds.

Group-wide adjusted earnings before interest, tax, depreciation and amortization jumped by 64% to €203.8M during the period, beating the Isle of Man-based company's previous expectations. Revenue also grew by 73% to €792.3M.

“Our success in the period was powered by our B2B business in the Americas and Europe," said chief executive officer Mor Weizer in a statement.

Weizer added that Playtech's Snaitech division in Italy also drove overall growth in the six months to June 30, with core income surging by 154% to €131.7M due to the reopening of retail sites following the lifting of pandemic restrictions. However, this uptick was offset by a "modest" decline in sales at Snaitech's online business.

Meanwhile, Playtech - a provider of software to larger gambling companies - said it is "confident in its future prospects." But it warned that the macroeconomic outlook remains uncertain, citing potential disruptions caused by the war in Ukraine and pressure from soaring inflation.

Related Articles

Playtech Reports Jump in HY Core Profit

U.S. lawmakers pile pressure on big banks over China ties, Taiwan

Deutsche Bank to approach 2023 "with caution", CFO says