Playtech Announced Revenue Growth in 2021 (US Market Contributed)
#SoftwareLab #GambleLike_USA #GambleLike_LatinAmerica
Playtech, one of the leading software developers from the United Kingdom, has recently reported a bumper revenue for January-December in 2021. It is €1.21 billion, which is 12% higher than revenue for the same period of time in 2020.
One of the reasons for such success is the rapid growth of Snaitech and the Latin American market. The increase in revenue is also caused by the COVID 2019 pandemic and the essential growth of the B2B gambling segment.
Chief executive Mor Weizer commented on those results in the following way: “Our 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. 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.”
GROWTH IN THE AMERICAS, AND THE US IN PARTICULAR
Playtech's presence in the Americas and its performance within the markets contributed the most to such a whooping revenue total. B2B sports betting and retail Snaitech subsidiary contributed €101.3 million to the total revenue, showing 94% growth.
The United States became the focus for Playtech in the Americas, and the company signed several important deals to stimulate its growth. A live casino deal to open live studios in New Jersey and Michigan was among those partnerships that aimed to bolster Playtech’s presence in the US. Live studio in Michigan was opened in collaboration with Parx Interactive through its Play Gun Lake brand. At the same time, players of New Jersey received access to Playtech’s portfolio due to the cooperation of this UK-based company with Bet365.
Those deals, as well as several other steps made by Playtech to refocus its business and lay the foundation for its successful performance in the US, appeared to be effective and allowed the company to increase its revenue significantly.
At the same time, this software developer does not ignore possibilities to strengthen its presence in Canada. So, it has recently signed a content deal with Northstar Gaming. This agreement allows Playtech to offer its live dealer games, poker, and video slots to players in Ontario and create new opportunities for the development of the Canadian gambling market.
Moreover, Playtech has opened a live casino studio in Zurich to take live dealer games to a new level in Switzerland. This studio was opened in cooperation with Swiss Casinos.
