Playtech has released its 2021 results on Thursday, March 24 and data shows that the company’s focus on the strategy in the US and expanding in Latin America has paid off. Both B2B and B2C units have been fruitful as the company’s revenue for 2021 increased by 12%.
Playtech’s Revenue Went over $1.3 Billion
The 12% increase that Playtech reported to its stakeholders means that the company’s revenue went from €1.078 billion ($1.1 billion) to €1.205 billion ($1.3 billion).
The CEO of Playtech, Mor Weizer, commented on the success by saying that these results mirror the quality of the technology by the company and its momentum.
He also credited the revenue increase to the successful expansion strategy in the US and the Americas and stated that Playtech will continue to grow in that region by entering “new strategic agreements.”
Weizer thanked all of the people who were included in Playtech’s success and gave a special shout-out to Ukrainian colleagues who still managed to find the time to help Playtech, even though Ukraine is currently in a massive conflict with Russia.
Adjusted EBITDA recorded a 25% growth as it rose to €317.1 million ($348 million). Playtech’s EBIDTA in 2020 was ($277.9 million). B2B revenue rose by 11% and B2C revenue increased by 10% between 2020 and 2021.
B2B and B2C Growth Explained
The B2C revenue of Playtech for 2021 reached €663.7 million ($722.9) million and that is a 10% increase to 2020’s €596.3 million ($655 million). Adjusted EBITDA went from €127.7 million ($140 million) in 2020 to €177.9 million ($195.4 million).
Sanitech, a subsidiary of Playtech, recorded a 20% increase in EBITDA and the company’s online business was key to Playtech’s success as its revenue for 2021 reached €229.9 million ($252.5 million), which is a 45% increase compared to 2020.
A number of sales contributed to the revenue as Sanitech sold Finalto, Social Gaming, and Casual, as well as surplus land. Weizer commented on Sanitech’s success by saying that it continues to “outperform the market” and it became the number 1 sports betting and retail brand in Italy.
On the B2B side, the revenue grew by 11% and Playtech cited the expansion in Latin America as the main contributor. Playtech noted that the financial assets derived from brands such as Wplay and Caliente. Fantastic growth was reported in Mexico and Colombia and outside of Latin America, Playtech expanded in the US and Europe via its live casino assets.
The Holland Casino strategic partnership was the key to the success in Europe and significant growth was shown in Canada via the NorthStar partnership. Holland Casino experienced massive growth, especially in the Netherlands, where statistics showed that between October and November 2021, the casino was the leader in money spent on gambling ads.
Post-tax profits of Playtech reached €686.7 million ($754.6 million), which is a significant improvement compared to 2020s €73.1 million ($80.3 million) losses.