Playtech Posts Loss for 2019

Casino game software group Playtech has announced their full-year 2019 financial results, noting that they posted a net loss of the year of €19.6 million.

Key financial indicators for the year ending December 31st, 2019 were:

  • Revenue up 23% to €1.51 billion
  • Adjusted EBITDA up 11% to €383.1 million
  • Net loss for the year of €19.6 million
  • B2B revenue up 15%
  • Sports revenues up 56%
  • B2B gaming revenues down 2% to €553.9 million
  • Snaitech revenue up 31%
  • Sun Bingo revenues up 19% to €40 million
  • B2C revenues up 56% to €900.5 million

Playtech Chairman Alan Jackson said, "Our core B2B gambling business reported strong growth in 2019. In addition we made further strategic progress by entering newly regulated markets, signing new customers, expanding existing relationships and continuing to innovate with new product launches. Together these are laying the foundations for our future growth.

"In our B2C gambling business, Snaitech had a fantastic 2019 and continues to gain market share and reached the number one market share position for online betting and gaming in Italy in H2 2019.

"As the business continues to transition and deliver a well-diversified higher quality revenue profile, I am pleased to report that the percentage of regulated revenue rose to 88% compared to 80% in 2018."

About the author

Therese Williams // UK Correspondent
Therese Williams
Therese is a fervent fan of slot machines and pub fruities, often trying her luck at some of the top online casinos. She covers news for Casino Listings with a focus on the UK and Europe. Therese studied arts and creative writing at university and has written for newspapers in the UK.
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bgsharpe
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29 February 2020 - 1:06pm
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Looking at the numbers I'm thinking they probably made some acquisitions during last year which would of explained the net loss for the period, otherwise the numbers look pretty good and especially the impressive 50%+ raise in the sportsbetting revenues.

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