Playtech’s Cost Control, 58% Online Revenue Growth Slows B2B Retail Decline in 2020



profane recorded a loss of 73 million euros (US $ 87.28 million) last year, compared to a profit of 55.9 million euros the year before, as coronavirus closures closed casinos across Europe.

Revenue down 25% to just over 1 billion euros ($ 1.28 billion). The figures were motivated by a The company’s B2B gambling division revenue dropped 40% as the pandemic led to retail store closings. Playtech also saw a decline in revenues for its gambling division due to store closings and the cancellation of sporting events.

It was partially offset by cost control and a 58% increase in online revenue compared to the previous year.

Playtech recorded higher costs last year due to its “aggressive” investment plans as it seeks to capitalize on growth in the United States and Latin America.

“The attitude and skills of our employees, as well as the strength and diversification of our technology-driven business model have enabled us to post strong financial performance despite a difficult environment” Playtech CEO Mor Weizer said in a statement. “Playtech has also made significant strategic and operational progress by adding new brands, expanding existing relationships and entering new markets. We are particularly satisfied with the excellent progress we have made in the US market, launching with bet365 and Entain in 2020, and the signing of milestone agreements with the Greenwood companies in 2021 to license our products in Michigan, Indiana, New Jersey and Pennsylvania. “

“Snaitech continued to excel in Italy despite store closings in 2020. Snai reached the number a market share position in Italy in online and retail sports betting and increased its overall online revenue by 58% in 2020. Italy continues to offer significant growth potential and Snaitech is ideally positioned to capitalize on this opportunity, ”added Weizer.

In addition, the company reported a “good start to 2021 in January and February in the context of the ongoing blockades in certain markets. “He expects the B2B and B2C online business to continue to perform well. Lockdowns are expected to remain in key markets in the second quarter, so he is“ cautious about the recovery in retail. ”The company has also noted increase investments in the United States to take advantage of the momentum of the Parx and Novomatic transactions.


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