Gaming software development company Playtech announced an adjusted EBITDA rise of 10 percent, to €219.9 million ($236 million), for 1H23.
According to a regulatory filing, Playtech continues to strengthen across regulated B2B markets and its Italian gaming arm Snaitech.
Strong performance was also seen in its B2B business, with 1H23 revenue up 7 percent to €334.5 million ($358 million) versus 1H22. B2B adjusted EBITDA increased 5 percent to €81.3 million ($87 million) against €77.2 million (83 million) recorded in 1H22.
Playtech’s B2B business remains focused on opportunities in regulated and soon-to-be regulated markets. In this context, the firm notes that its Asia segment saw revenue decline 14 percent (-10 percent on a constant currency basis) compared to 1H22 due to continued pressures in the region.
Commenting on the performance of the company for the first half of fiscal 2023, company CEO Mor Weizer said, “We delivered our highest ever adjusted EBITDA in the first half of 2023, demonstrating the benefits of the continued strategic and operational progress made in recent years.”
“We have started the second half of the year well and are on track to deliver FY23 adjusted EBITDA slightly ahead of current expectations. With our proven strategy, robust balance sheet and our operational expertise, we are confident in our ability to capitalize on the many growth opportunities we have ahead,” noted the CEO.