Playtech has defended its choice to hire private intelligence firm Black Cube to investigate Evolution, after the live casino provider revealed that Playtech was the...
Playtech Stays Upbeat in LatAm Despite Market Setbacks
Playtech remains optimistic about its long-term prospects in Latin America despite facing regulatory challenges in the region in the first months of 2025.
Playtech marked two significant headwinds in Latin America: Brazil’s shift to a regulated market and the recent introduction of a temporary VAT charge in Colombia. The latter has already led to a 30% decline in online gross gaming revenue (GGR) since February. Despite these difficulties, Playtech restated its commitment to the region, underscoring future growth opportunities.
In the US, Playtech reported revenue growth across its live, casino, and platform components. The growth can be a result of collaborations with major operators in 2024, such as Bet365, Rush Street Interactive, and Hard Rock Digital, as well as the high demand for live dealer solutions.
Playtech also highlighted the ongoing growth from the Caliplay joint venture with Caliente. The revised agreement came into effect on March 31. Playtech now receives dividends as a 30.8% equity holder but no longer collects additional B2B service fees. The move marks the end of a years-long disagreement over licensing and service payments, including a discussed €34.4 million.
Following the €2.30 billion sale of Snaitech to Flutter Entertainment, completed on April 30, Playtech has fully redirected to a B2B-only model. Most profits from the deal will be returned to shareholders at €5.73 per share.
CEO Mor Weizer called the simplified model a key enabler for future growth:
“Our core B2B business has delivered a solid performance in the first four months of the year, with a standout performance in the US. Given the strategic and operational progress being made, we remain confident in Playtech’s ability to execute on the exciting growth opportunities over the medium term.”
After the Snaitech sale, Happybet remains Playtech’s final B2C asset. Operating in Germany and Austria, Happybet is currently up for sale, and the company says progress is ongoing, with updates expected in due course.
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