Playtech says it has the financial flexibility to invest after reporting a strong first half, but the supplier has no immediate plans for mergers and acquisitions.
Chief Financial Officer Chris McGinnis told investors that Playtech would remain cautious while considering selective opportunities, particularly investments that support its B2B technology operations. Chief Executive Officer Mor Weizer said the company was “well-positioned to invest” while also returning capital to shareholders.
Americas drive growth
Playtech’s Americas business was a major contributor to the results. Revenue from the US and Canada increased 161% year on year, supported by its Past Motor Racing offering with Hard Rock Bet in Florida. Playtech expects that contribution to normalise at a more sustainable level during the second half.
The supplier launched in Connecticut during the period, taking its presence to six US iGaming states. It also launched with Fanatics in multiple states, FanDuel in West Virginia and bet365 in Michigan.
Revenue in Latin America rose 29% year on year, driven by Mexico and Colombia and by customer acquisition during the 2026 World Cup. Playtech also reported continued strong performance from its investments in Caliente Interactive and Hard Rock Digital.
Profit and outlook
Group revenue reached €425.1m in the first half, up 10% from €387m in H1 2025. EBITDA increased 77% to €162.5m, compared with €91.6m a year earlier, while post-tax profit rose to €95m from €16.6m.
Free cash flow was €101m and net cash stood at €39.2m after a €25m share buyback. Playtech said its balance sheet provided flexibility for investment and further capital returns.
The company expects adjusted EBITDA to be lower in the second half because Hard Rock Digital revenue is normalising, investment is continuing in its major strategic partnership in Brazil, and the UK remote gaming duty increases will apply for a full half-year. The Brazil partnership is expected to sign in late 2026.
Playtech said it remains on track to deliver more than €270m in adjusted EBITDA for FY 2026. It also expects to reach the upper end of its medium-term targets of €250m-€300m in adjusted EBITDA and €70m-€100m in free cash flow earlier than anticipated.
McGinnis said: “While there is no immediate plan for M&A, we remain prudent but open to selective opportunities, particularly those aligned with our ambition to strengthen Playtech’s position as the leading B2B technology provider.”
Weizer said Playtech would continue investing in products and technology, including the use of artificial intelligence, while expanding in regulated and regulating markets.
On the legal situation involving Evolution, Weizer said he had “lots to say” but could not comment beyond the recently released Spectrum Report and accompanying press release. Playtech has said it stands by its decision to commission the original Black Cube investigation.
