Playtech posts modest revenue growth amid EBITDA decline in 2024
United Kingdom-headquartered Playtech plc, a leading content and services provider for the global gambling industry, has released its financial results for the year ending 31 December 2024. The report highlights robust revenue growth, key strategic developments, and the company’s outlook for 2025.
Financial performance and key achievements
Playtech reported a total revenue of €1.79 billion for 2024, marking a 5 percent year-over-year increase. Despite the revenue growth, the company’s earnings before interest, tax, depreciation and amortisation (EBITDA) declined by 12 percent, falling from €406.5 million in 2023 to €358.8 million in 2024. A similar trend was observed in EBITDA from continuing operations, which dropped by 16 percent year-over-year to €127.7 million. However, revenue from continuing operations surged by 10 percent, reaching €848.0 million ($914.4 million).
One of the key highlights of Playtech’s 2024 performance was its strong growth in the Americas, where revenue soared by 19 percent to €251.6 million. The company also reported a surge in its B2B Adjusted EBITDA, which grew by 22 percent to €222.0 million. Additionally, Playtech expanded its global reach, launching casino and live content with Hard Rock Digital in New Jersey and strengthening its position in Latin America through partnerships with Wplay in Colombia and Caliplay in Mexico.
Live casino operations continued to thrive, with revenue from this segment growing by 24 percent in regulated markets compared to FY 2023. Another notable achievement was the expansion of Playtech’s AI-led safer gambling tool, BetBuddy, which was deployed by seven new brands in 2024, bringing its total reach to 23 brands across 14 jurisdictions.
Future outlook
A major strategic shift for Playtech is the planned sale of Snaitech to Flutter Entertainment, expected to be completed in Q2 2025. According to the company, this move aligns with its long-term strategy to focus primarily on its B2B business. Additionally, Playtech has revised its agreement with Caliplay, reinforcing its growth strategy as a predominantly B2B company. The revised arrangements are set to be completed by 31 March 2025.
Looking ahead, Playtech CEO Mor Weizer stressed the company’s confidence in its market position and future growth. “We successfully reached an agreement to sell Snaitech to Flutter Entertainment, delivering significant value to our shareholders while enabling Playtech to refocus predominantly on its core strengths as a pure-play B2B business,” said Weizer. He also highlighted Playtech’s strong partnership with Caliplay in Mexico and the company’s solid performance in the B2B sector.
“The combination of Playtech’s industry-leading technology with its exposure to attractive markets underpins our confidence in the Group’s new medium-term targets. We are excited about the future and the many opportunities ahead,” Weizer added.
