New-look Playtech expects adjusted EBITDA to reach €90 million in H1

Playtech 2024

Summary

Playtech forecasts at least €90 million in adjusted EBITDA for the first half of its 2025 financial year, a sizeable drop from €243m in H1 2024. The decline chiefly reflects the sales of Snaitech and HappyBet as Playtech repositions itself as a pure-play B2B supplier.

The group reported continued momentum in its B2B operations and a stronger-than-expected contribution from income from associates, helped by favourable sporting results for Caliente Interactive in Mexico. Under a revised strategic agreement effective 31 March, Playtech now holds a 30.8% equity stake in Caliente Interactive and is receiving dividends, though it will not receive additional B2B service fees.

The forecast excludes Snaitech contributions (sold to Flutter for about €2.3bn) and includes the operating loss from HappyBet (sold to NetX Betting). Playtech says the simplified, pure-play model should allow it to sharpen technology, grow customers and expand share-of-wallet. The group plans to increase investment in the US and Brazil while noting regulatory headwinds in Brazil and Colombia. Full H1 results are due 11 September 2025.

Source

Source: https://igamingbusiness.com/finance/half-year-results/playtech-adjusted-ebitda-h1/

Key Points

• Playtech forecasts €90m adjusted EBITDA for H1 2025, down from €243m in H1 2024.
• The drop is driven by disposal of Snaitech and HappyBet as the company pivots to a pure-play B2B strategy.
• Snaitech was sold to Flutter for around €2.3bn; HappyBet was sold to NetX Betting (Pferdewetten AG).
• Playtech now owns 30.8% of Caliente Interactive, receiving dividends under a revised strategic agreement but no longer getting extra B2B service fees.
• Forecast excludes Snaitech contributions and includes HappyBet’s operating loss.
• Playtech plans increased investment in the US and Brazil, while monitoring regulatory and VAT headwinds in Brazil and Colombia.
• Full H1 results will be published on 11 September 2025.

Why should I read this?

Quick and useful: Playtech has taken a hit to near-term EBITDA to reshape itself into a cleaner B2B supplier. If you care about supplier strategy, M&A, or where revenue will come from next, this explains the recent numbers and why management thinks the trade-off is worth it. We’ve skimmed the detail so you don’t have to — but it’s worth a proper read if you follow the sector.

Context and relevance

The story sits within a broader industry move towards specialisation and consolidation. Monetising B2C assets to focus on B2B changes Playtech’s revenue and margin profile and will affect investors, partners and customers that rely on its platform and content distribution. The update also flags where Playtech is placing growth bets (US and Brazil) and the regulatory risks that could blunt near-term gains.