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Challenging backdrop hits Playtech revenue
StockMarketWire.com
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Playtech has announced a 25% fall in its 2020 revenue to €1.07 billion amid a 'challenging backdrop'.
It said its financial performance for the year had been 'resilient' with an adjusted EBITDA of €310.0 million, driven by Finalto in the first half of the year, and Core B2B and Snaitech in the second.
Mor Weizer, CEO at Playtech, said: 'We are particularly pleased with the excellent progress we have made in the US market, launching with bet365 and Entain in 2020, and signing milestone agreements with the Greenwood companies in 2021 to license our products in Michigan, Indiana, New Jersey and Pennsylvania.
'Snaitech has continued to excel in Italy despite the retail closures in 2020. Snai achieved the number one market share position in Italy across online and retail sports betting and grew its overall online revenue by 58% in 2020. Italy continues to offer significant growth potential, and Snaitech is ideally positioned to capitalise on this opportunity.'
In 2020, the company launched its ESG commitment, which Mr Weizer said will 'consolidate our position as a global leader in safer products, data analytics and player engagement solutions and commits to grow our business in a way that benefits our people, our communities, the environment and our industry'.
At 9:47am: (LON:PTEC) Playtech PLC share price was 0p at 376.2p
Story provided by StockMarketWire.com
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