The London-listed online casino software developer and games supplier, Playtech published its 2021 full-year result recently. The group announced revenue of €1.21 billion for the 12 months until the end of December 2021. This number was 12% higher compared to the same period one year previously (€1.07 billion).
According to Playtech, this increase was a result of a number of reasons, most significantly its growth in online B2B, especially through its well-performing Italian brand, Snaitech and in the Latin American markets. Playtech’s B2B segment grew by 11% (from €494.8 million in 2020 to €554.3 million in 2021).
2021 was a year that continued to be plagued by COVID19, and its effects were felt throughout the world. Nevertheless, Playtech managed to offset hurdles brought on by the pandemic, thanks to its revenue growth. Adjusted EBIDTA reached €317 million – an increase of 25% year on year.
The Strength of the US Market
Playtech made amazing tracks in the US market, which is one of the fastest growing in the world. In a note to its shareholders, Playtech said that it was very successful in in the Americas during 2021. Its Business-to-Businees sports betting and retail subsidiary Snaiitech recorded growth of 94% to €101.3 million.
Key Features of Playtech’s Performance in 2021
- Playtech opted to refocus its business during the year, starting with the sale of its Casual and Social Gaming arm in January. It also sold Finalto, and the deal is expected to be completed this year.
- Playtech continues to set the groundwork to become one of the biggest performers in the US market. It plans to double its revenues in North America this year.
- Playtech expanded rapidly in the US, including the setting up of live casino studies in New Jersey and Michigan. The latter was launched together with Parx Interactive. The New Jersey studio can be used by operators through an arrangement that Playtech has with Bet365.
Playtech Leadership Impressed with Results
According to the chief executive of Playtech, Mor Weizer, the full year results demonstrate the quality of Playtech’s technology and the momentum across the group. “Our strong performance is underpinned by our B2B business, in particular the tremendous growth we have seen in the Americas,” he said. “In B2C, the story is similar, with Snaitech continuing to outperform the market, achieving the position of the number one brand across sports betting and retail in Italy.”
Playtech and the South African Online Casino Market
These online casinos carry thrilling video slot games, classic slots and classic card and table games by the group on their platforms, not to mention the progressive jackpots with prizes that could potentially reach into the millions of rand.
There is no doubt that with its strong leadership and focus on developing markets, Playtech will continue to grow in strength into 2022 as well.