Playtech Americas revenue jumps 64% in 2021 on Caliente and US growth
Gaming supply giant lauds Americas and performance of B2C brand Snaitech as EBITDA jumps by a quarter to €317m
Playtech’s US and Latam-focused business has reported a 64% year-on-year revenue increase during 2021, with full-year divisional revenue hitting €101.3m($111.5m).
Delivering its financial update for 2021, the London-listed supplier pinpointed Mexican operator Caliente as the main protagonist for this growth, alongside Wplay.co in Colombia, Panama, and Guatemala.
Now licensed in five states, 2021 saw Playtech launch with bet365 and BetMGM in New Jersey and Parx in Michigan, New Jersey, and Pennsylvania. Licences have also been granted for Arizona and Mississippi.
Playtech has said it will continue to increase its investment in the US market “in order to take advantage of a strong pipeline of opportunities” with potential new customers and existing customers from other markets.
In respect of Latam plans, Playtech has said it is “progressing plans” to develop a new live casino facility in Peru during 2022, as it continues to expand its addressable market in the region.
“In 2021, the group recognised a significant unrealised gain in relation to the fair value of the group’s options in Latin America. The gain relates to holdings in Caliente, Wplay and others and highlights the value of the group’s strategic agreements in Latin America,” Playtech said.
At a wider level, Playtech reported full-year revenue of €1.21bn for 2021, representing a year-on-year increase of 12%, or 11% in constant currency, on the €1.08bn for 2020.
Adjusted EBITDA was up 25% YOY to €317m, while adjusted post-tax profit surged 366% from €27.3m to €127.6m.
B2B accounted for €554.3m of group revenue, an increase of 12%. Revenue from B2C operations rose 11% from €596.3m to €663.7m thanks largely in part to the strong performance of Italian operator Snaitech.
Snaitech saw a 45% increase in online to €229.9m and an adjusted EBITDA growth of 54% to €135.3m.
Snaitech’s online strength offset weaker than usual retail figures (down 23% YOY) given Italy’s lockdown restrictions lasted longer than most of Europe with premises not opening until H2 2021.
Snaitech became the number one operator in Italy in terms of revenue during 2021 in a country where online penetration is relatively low, standing at 27% compared to retail, Playtech said. That number has been accelerated by Covid-19 (11% in 2019).
Snaitech’s total yearly revenue was up 12%, although given the retail losses it was down 29.5% on 2019’s figures.
Playtech CEO Mor Weizer hailed Playtech’s strong performance during 2021, something underpinned by B2B growth particularly across the Americas.
“We have made real progress in the execution of our US strategy, supported by new licenses, new launches, and new partnerships, and we continue to go from strength to strength in Latin America, buoyed by new strategic agreements across the region,” Weizer said.