Playtech reports ‘standout performance’ in US B2B business, headwinds in Latin America

Playtech plc has reported a “solid performance” for the first four months of 2025, with strong growth in its core B2B operations – particularly in the US – helping to offset regulatory headwinds in key Latin American markets.

Playtech is present in Malta through two subsidiaries, PT Services Malta Limited and Quickspin Malta.

In a trading update issued on Wednesday, the global iGaming software supplier highlighted continued momentum as it transitions towards becoming a predominantly B2B-focused business.

CEO Mor Weizer described the period as a “busy start to the year” marked by major strategic progress.

“Our core B2B business has delivered a solid performance in the first four months of the year, with a standout performance in the US,” Mr Weizer said. “Given the strategic and operational progress being made across the business, we remain confident in Playtech’s ability to execute on the exciting growth opportunities over the medium term.”

US leads growth

Playtech saw “very strong” revenue growth in the US across Live, Casino, and Platform segments, as major operator launches from 2024 began to translate into revenue. The company flagged high demand for its Live Casino products throughout the Americas, reinforcing its commitment to continued investment in the region.

The company also reported robust performance in its SaaS (Software as a Service) segment, which offers higher margins and is less capital-intensive. Growth in this area was described as “very strong” and spanned multiple operators and geographies.

LatAm faces regulatory turbulence

However, the company acknowledged “initial headwinds” in Latin America. In Brazil, Playtech’s performance was affected by the transition to a regulated market, while Colombia implemented a temporary VAT charge, dampening returns.

Despite these short-term challenges, the company remains bullish about the long-term opportunities in Latin America’s fast-evolving iGaming landscape.

Strategic developments

A major milestone during the reporting period was the completion of Playtech’s €2.3 billion sale of its Italian-facing Snaitech business to Flutter Entertainment plc on 30 April. Approximately €1.8 billion of the proceeds will be distributed to shareholders via a special dividend, payable on 12 June.

In Germany, Playtech continues to make progress on the sale of its HAPPYBET business, with updates expected in due course.

Additionally, the company strengthened its balance sheet by initiating the early redemption of €150 million in senior secured notes, which were due in March 2026. This redemption is set to take place on 2 June 2025.

Corporate governance update

As part of planned governance changes, John Gleasure has now assumed the role of Chairman, succeeding Brian Mattingley, who has stepped down from the Board following the company’s AGM.