Playtech Demonstrates Significant Revenue Growth Through 2022
Playtech has recently published its 2022 year-results report that demonstrates a significant B2B segment and Snaitech business growth that contributes to the increase in revenue of 33%. Thus, the company states to have a revenue of €1.60bn, which is €39m higher than the previous year.
Despite having a tough and challenging year, the company’s CEO Mor Weizer believes that Playtech has managed to achieve such record-breaking results thanks to the fact that all sectors of the business worked in tandem.
SHORT RESULTS OVERVIEW
B2B segment showed impressive growth in regulated markets which resulted in a 14% increase in revenue which comprised €632.4m.
This record result was achieved despite the ongoing war in Ukraine which had an essential impact on Playtech, as 700 employees are based in Ukraine, and they represent almost 10% of the company’s workforce.
“I’d like to acknowledge the bravery of our colleagues in the Ukraine and praise the work of our crisis management team, who have worked tirelessly to support our Ukrainian colleagues and their families,” commented Mor Weizer.
In Europe (excluding the United Kingdom), the increase in revenue was driven mainly by the business in the Netherlands. Poland, Spain, and Ireland also contributed significantly to those results.
At the same time, 2022 was a successful year for Playtech in North and South America, and it ended with a 27% increase. Those results were powered by Caliente in Mexico and significant progress in Brazil. Several important agreements in the US market also contributed to the impressive result for Playtech’s Americas B2B business.
Moreover, Snaitech stated a revenue increase of 54%, but this high increase percentage was expected because Playtech’s retail network was closed during almost the entire H1 of 2021 because of the Covid-19 pandemic.
COSTS RISE
At the same time, the company reports an increase in costs, and it claims that B2B costs have risen by 14%. It comprised €472.2m (slightly over €57m more than in 2021).
The expenses increased in almost every segment, but it has not prevented the company from having a successful year with impressive results that inspire it for new achievements in 2023.
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