Playtech Reports €480m EBITDA and Prepares for Snaitech Divestment

B2B Segment Drives Growth

Playtech’s B2B division delivered €754.3 million in revenue, up 10% from 2023, while adjusted EBITDA rose 22% to €222.0 million. Growth was recorded across core markets, with particularly strong momentum in the Americas, where revenue increased by 19% to €251.6 million.

The US and Canada jointly contributed €29.8 million – a 126% increase year-on-year – as Playtech expanded partnerships with Hard Rock Digital in New Jersey and Wplay in Colombia. Brazil also played a significant role, ahead of its anticipated regulation in 2025.

Live Casino revenue grew 24% in regulated markets, and SaaS revenue reached €80 million, a 59% increase. Playtech also extended the reach of its BetBuddy safer gambling tool to seven new brands, covering 23 brands in 14 jurisdictions.

B2C Operations Remain Stable Amid Restructuring

Revenue from B2C operations increased marginally by 2% to €1.05 billion. Sun Bingo and other smaller brands grew by 7% to €78.9 million, though adjusted EBITDA declined to €4.5 million due to enhanced affordability checks in the UK market.

HAPPYBET reported an EBITDA loss of €11.8 million, and Playtech began a sale process for its German business following the closure of Austrian operations in the second half of 2024.

Snaitech Sale to Return Capital

Snaitech, now classified as discontinued operations, reported €956.1 million in revenue for 2024 – a 1% increase. While online revenue grew 3%, sports results were described as customer-friendly, limiting overall gains.

The €2.3 billion sale of Snaitech to Flutter Entertainment remains on track for Q2 2025 completion. Playtech plans to return between €1.7 billion and €1.8 billion to shareholders via a special dividend. As of year-end, the company reduced its net debt by 49% to €142.8 million.

Revised Caliplay Agreement

Playtech announced a revised strategic agreement with Caliplay, its Mexican joint venture partner, effective 31 March 2025. The update aims to clarify long-term fee structures and support growth across the Americas.

The company also secured a new €225 million revolving credit facility to replace its current €277 million arrangement after the Snaitech transaction is finalized.

Looking ahead, Playtech has set new medium-term financial targets, including adjusted EBITDA in the €250 million to €300 million range and free cash flow between €70 million and €100 million.