Playtech Aims to Hit EBITDA Target

Staff Writer Industry News, Playtech 876

Isle of Man-based supreme online software provider Playtech is marking a milestone by perpetually continuing the steady growth towards its business goals, it has been announced early this week.

Statement for the Second Half of 2018

Remaining on course to achieve adjusted EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) between €320m ($360m) and €360m ($405m) for 2018.

The provider unveiled a trading report for the period from 30 June 2018 until November 2018, showing the figures performing consistently with forecasts from the half-year stage. Regarding revenues received from the Asian market, it has braced itself at roughly €150 million.

An Abundance of Business Deals

Playtech has inked quite a handful of contracts in the past eleven months. The most prominent and spoken about of all must be the Snaitech acquisition, which took months and a whole lot of anticipation to be complete. Eventually, in July this year, the manufacturer managed to get its hands on a 70.6% stake of the Italian supplier, having received the green light from Agenzia delle Dogane e dei Monopoli, the Italian regulator. The deal concluded the successful first half of 2018.

All in Line with Expectations

The trading update was nothing short of satisfactory either, with the rest of the B2C division in conformity with what has been envisaged.

As far as Playtech’s performance after July 2018 goes, the supplier managed to bring a massive change to the world of lottery by developing a unique and innovative win-inducing Bingo software, enabling players to get to enormous winnings more easily and securing they get the best experience from their favourite game while enjoying the fair play.

With respect to the firm’s financial position, the report read that in the last four months Playtech has “improved efficiency of its balance sheet” after the sale of its shares in Plus500 and completing a €530m bond deal.

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