According to Playtech’s FY2025 (fiscal year 2025) results, restructuring and the divestiture of Snaitech were both very difficult to manage, resulting in declines in both revenue as well as earnings.
Total Group Revenue for FY2025 dropped by $763.6 million (10%) compared to FY2024; Adj. EBITDA dropped by $197 million (9%), a little higher than originally estimated due to stronger than expected operating results in the US market.
Profitable Operations also declined at Playtech with $44.2 million of post-tax profit from continuing operations falling 28%. For the full year, Playtech had a net loss attributable to operations of €169.5 million. When including discontinued operations, total profit for the year was €120.7 million. The significant difference in total profit year on year was due to the lack of one-off gains that were recorded in FY2024.
Revenues generated by Playtech’s core B2B segment were down 9% to €688.3 million, while EBITDA decreased by 36% to €141.4 million. The primary cause of these declines relates to changes in the Caliente agreement, which resulted in earnings being moved from revenue to investment income. Excluding the effect of these changes, B2B’s revenue performance from regulated markets grew by 6% and comprised over 80% of total B2B revenue.
Following the completion of the €2.3 billion Snaitech transaction, Playtech is in a significantly improved financial position with a net cash position of €28.5 million, compared to net debt prior to the sale. In addition to improving its financial position, Playtech returned roughly €1.8 billion to shareholders through a combination of special dividends and share repurchases. The Snaitech transaction has shifted Playtech’s focus more towards B2B while reducing its overall exposure.
