Our operations

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B2B

Providing technology to gambling operators globally through a revenue share model and, in certain agreements, taking a higher share in exchange for additional services.

Revenue

€684m

Adjusted EBITDA

€182m

Adjusted EBITDA margin

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B2C

Acting directly as an operator in select markets and generating revenues from online gambling, gaming machines and retail betting.

Revenue

€1,037m

Adjusted EBITDA

€250m

Adjusted EBITDA margin

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A global company

Playtech was established at the inception of the online gambling industry and possesses unparalleled knowledge and expertise in the sector, with over 20 years of experience and investment in technology. Playtech’s global scale and distribution capabilities, with over 180 licensees operating in over 40 regulated markets and with offices in 19 countries, mean we are ideally positioned to capture opportunities in newly regulating markets and high-growth markets with low online penetration.

19

Countries with offices

>7,700

Colleagues

>180

Licensees

>40

Regulated jurisdictions

Company overview

Market Trends

Product and Innovation

Providing market-leading solutions through Playtech’s bespoke technology

Through our proprietary technology solution, Playtech has pioneered omni-channel gambling technology which provides an integrated and open platform across retail and online for all key verticals, delivering a safe and seamless customer experience.

Product and innovation

Highlights of the year

Group revenue growth1

+7%

Group Adjusted EBITDA1

€432m

Regulated B2B revenue growth

+18%

B2B Adjusted EBITDA growth

+14%

 

  1. From continuing operations.

B2B – strengthening across key markets

US continues to gain traction
2023 was a year where significant progress was made on executing the US strategy. We signed a landmark agreement with Hard Rock Digital in early 2023, including an $85 million equity investment. We also launched with several operators in multiple states, and are now licensed in 11 states with further applications progressing.

Capitalising on Live
Live continued to see healthy revenue growth with regulated markets up 24% in 2023 versus 2022. Investment remains a priority with the launch of our third US studio in Pennsylvania, while we have opened a second studio in Lima. Innovative content continues to be rolled out, with the launch of Jumanji™ The Bonus Level Live and Big Bad Wolf Live.

Structured agreements drive LatAm growth
During 2023, we witnessed an excellent performance from Wplay in Colombia and encouraging progress from Galerabet in the exciting Brazil market, and continued to benefit from our highly successful partnership with Caliplay in Mexico.

B2C – delivering across both retail and online

Preserving brand leadership
Snai’s brand equity plays a crucial role in driving growth, particularly in the context of the advertising ban in the Italian market. In 2023, the Snai brand was ranked number one in sports betting (retail and online combined, as measured by gross gaming revenue (GGR)), which is a testament to its consistently strong operational performance and unique brand identity.

Retail betting business showing strength
Driven by pent-up demand in Italy post the World Cup, the retail betting division delivered a record performance, c.20% above the pre-pandemic levels achieved in 2019. This illustrates the strength of the Snai brand, and increases the addressable pool of customers to transition to online.

Bolt-on acquisition; strong M&A pipeline
In March 2023, Snaitech acquired Giove Group, a well-established betting operator in the Puglia region (southern Italy). Giove holds licences for both retail betting and online and directly manages 18 betting shops. The acquisition, while small, illustrates the appetite to grow the Snaitech business in Italy.

Championing sustainability across the Company

Pioneering safer gambling solutions
Playtech has enhanced its leading Player Account Management+ (PAM+) offerings through the development of personalised responsible gambling tools for individual players. These tools are capable of adapting to the players’ risk level, which is calculated by Playtech’s cutting-edge analytics tool BetBuddy.

Paving the road to net zero
As Playtech sets in motion its net zero plan, the Company has approved a near-term science-based emissions reduction target of 50.4% in its Scope 1, 2 and 3 emissions by 2032, and a net-zero science-based target by 2040 with the Science-based Target initiative (SBTi).

Providing support to colleagues facing hardship
Playtech launched its Global Benevolent Fund, an initiative to provide financial support to colleagues and their immediate families who may encounter unforeseen, severe, life-changing challenges such as medical emergencies, severe illness, and financial hardship.

Group revenue growth1

+7%

Group Adjusted EBITDA1

€432m

Regulated B2B revenue growth

+18%

B2B Adjusted EBITDA growth

+14%

 

  1. From continuing operations.

B2B – strengthening across key markets

US continues to gain traction
2023 was a year where significant progress was made on executing the US strategy. We signed a landmark agreement with Hard Rock Digital in early 2023, including an $85 million equity investment. We also launched with several operators in multiple states, and are now licensed in 11 states with further applications progressing.

Capitalising on Live
Live continued to see healthy revenue growth with regulated markets up 24% in 2023 versus 2022. Investment remains a priority with the launch of our third US studio in Pennsylvania, while we have opened a second studio in Lima. Innovative content continues to be rolled out, with the launch of Jumanji™ The Bonus Level Live and Big Bad Wolf Live.

Structured agreements drive LatAm growth
During 2023, we witnessed an excellent performance from Wplay in Colombia and encouraging progress from Galerabet in the exciting Brazil market, and continued to benefit from our highly successful partnership with Caliplay in Mexico.

B2C – delivering across both retail and online

Preserving brand leadership
Snai’s brand equity plays a crucial role in driving growth, particularly in the context of the advertising ban in the Italian market. In 2023, the Snai brand was ranked number one in sports betting (retail and online combined, as measured by gross gaming revenue (GGR)), which is a testament to its consistently strong operational performance and unique brand identity.

Retail betting business showing strength
Driven by pent-up demand in Italy post the World Cup, the retail betting division delivered a record performance, c.20% above the pre-pandemic levels achieved in 2019. This illustrates the strength of the Snai brand, and increases the addressable pool of customers to transition to online.

Bolt-on acquisition; strong M&A pipeline
In March 2023, Snaitech acquired Giove Group, a well-established betting operator in the Puglia region (southern Italy). Giove holds licences for both retail betting and online and directly manages 18 betting shops. The acquisition, while small, illustrates the appetite to grow the Snaitech business in Italy.

Championing sustainability across the Company

Pioneering safer gambling solutions
Playtech has enhanced its leading Player Account Management+ (PAM+) offerings through the development of personalised responsible gambling tools for individual players. These tools are capable of adapting to the players’ risk level, which is calculated by Playtech’s cutting-edge analytics tool BetBuddy.

Paving the road to net zero
As Playtech sets in motion its net zero plan, the Company has approved a near-term science-based emissions reduction target of 50.4% in its Scope 1, 2 and 3 emissions by 2032, and a net-zero science-based target by 2040 with the Science-based Target initiative (SBTi).

Providing support to colleagues facing hardship
Playtech launched its Global Benevolent Fund, an initiative to provide financial support to colleagues and their immediate families who may encounter unforeseen, severe, life-changing challenges such as medical emergencies, severe illness, and financial hardship.

Americas: the land of opportunity

With a well-established presence in the US including three Live studios operational and multiple brands including Hard Rock Digital, Playtech is well placed to take advantage of the huge opportunity in the US market.

The opportunity

The United States of America is the world’s largest online gambling market, which is projected to reach $41 billion in GGR by 2030. Regulation is the single biggest market driver in the short term, and Playtech continues to see positive legislative momentum in the US. Since the repeal of PASPA in 2018 more than 35 states have legalised online sports betting, whilst iGaming is currently regulated in eight states. According to industry forecasts, the online gambling market in the US will continue to display a strong growth profile with a CAGR of more than 20% in both sports betting and iGaming segments out to 2030.

How we are exposed

Playtech recognises the unmissable growth opportunity offered by the US market and continues to proactively invest in the infrastructure and operational capabilities to accelerate the Group’s presence. Our strategy centres around iGaming, where we have extensive experience and are recognised for our leading market content. Having signed agreements with multiple operators as well as a comprehensive structured agreement with Hard Rock Digital, we are well placed in the US. Our infrastructure includes three Live studios, and over 200 colleagues based in the US.

$41bn

Size of the US market over the long term based on GGR

3

Live studios operational in the US

640x360_US-Flag.png

Playtech is well placed to benefit from the on-going expansion of Canadian market via a comprehensive structured agreement with a prominent local operator NorthStar as well as more than 10 other operators and launched with FanDuel for Live in Ontario.

The opportunity

Canada is home to a rapidly growing online gambling market, which is projected to nearly double in size to $6 billion by 2028, driven by a favourable regulatory environment and attractive market economics. The industry is regulated on a province-by-province basis, with Ontario leading the way to become the first regulated province in April 2022. Total player value is showing impressive momentum, while ROI and cost-per acquisition metrics are also trending favourably.

How we are exposed

Playtech is well placed to benefit from the on-going expansion of Canadian market via a comprehensive structured agreement with a prominent local operator NorthStar as well as more than 10 other operators and launched with Fan Duel for Live in Ontario.

$6bn

Size of the Canadian market over the long term based on GGR

640x360_Can-Flag.png

Brazil is a global economic powerhouse, is deeply passionate about sports and now home to one of the most exciting markets in gambling. Brazil’s large population of 215 million and promising regulatory environment make it an exceptionally attractive market opportunity, with online sports betting and casino expected to reach $5 billion GGR in the next five years.

The opportunity
Brazil is a global economic powerhouse deeply passionate about sports and now home to one of the most exciting markets in gambling. Brazil’s large population of 215 million and promising regulatory environment make it an exceptionally attractive market opportunity, with online sports betting and casino expected to reach $5billion GGR in the next five years.

How we are exposed
Playtech is well positioned for success in the rapidly evolving Brazilian market via its partnership with Galerabet and several other B2B customers. In 2021, Playtech and Galerabet signed a structured agreement aiming to combine advanced gaming technology and expert knowledge of the local market in anticipation of the regulation in the Brazilian market. Galerabet is building a strong brand identity through sponsorship agreements with the prominent local sporting brands including the Brazilian Football Confederation and the Brazilian Basketball Confederation.

$5bn

Size of the Brazilian market over the long term based on GGR

640x360_Braz-Flag.png

With a well-established presence in the US including three Live studios operational and multiple brands including Hard Rock Digital, Playtech is well placed to take advantage of the huge opportunity in the US market.

The opportunity

The United States of America is the world’s largest online gambling market, which is projected to reach $41 billion in GGR by 2030. Regulation is the single biggest market driver in the short term, and Playtech continues to see positive legislative momentum in the US. Since the repeal of PASPA in 2018 more than 35 states have legalised online sports betting, whilst iGaming is currently regulated in eight states. According to industry forecasts, the online gambling market in the US will continue to display a strong growth profile with a CAGR of more than 20% in both sports betting and iGaming segments out to 2030.

How we are exposed

Playtech recognises the unmissable growth opportunity offered by the US market and continues to proactively invest in the infrastructure and operational capabilities to accelerate the Group’s presence. Our strategy centres around iGaming, where we have extensive experience and are recognised for our leading market content. Having signed agreements with multiple operators as well as a comprehensive structured agreement with Hard Rock Digital, we are well placed in the US. Our infrastructure includes three Live studios, and over 200 colleagues based in the US.

$41bn

Size of the US market over the long term based on GGR

3

Live studios operational in the US

640x360_US-Flag.png

Playtech is well placed to benefit from the on-going expansion of Canadian market via a comprehensive structured agreement with a prominent local operator NorthStar as well as more than 10 other operators and launched with FanDuel for Live in Ontario.

The opportunity

Canada is home to a rapidly growing online gambling market, which is projected to nearly double in size to $6 billion by 2028, driven by a favourable regulatory environment and attractive market economics. The industry is regulated on a province-by-province basis, with Ontario leading the way to become the first regulated province in April 2022. Total player value is showing impressive momentum, while ROI and cost-per acquisition metrics are also trending favourably.

How we are exposed

Playtech is well placed to benefit from the on-going expansion of Canadian market via a comprehensive structured agreement with a prominent local operator NorthStar as well as more than 10 other operators and launched with Fan Duel for Live in Ontario.

$6bn

Size of the Canadian market over the long term based on GGR

640x360_Can-Flag.png

Brazil is a global economic powerhouse, is deeply passionate about sports and now home to one of the most exciting markets in gambling. Brazil’s large population of 215 million and promising regulatory environment make it an exceptionally attractive market opportunity, with online sports betting and casino expected to reach $5 billion GGR in the next five years.

The opportunity
Brazil is a global economic powerhouse deeply passionate about sports and now home to one of the most exciting markets in gambling. Brazil’s large population of 215 million and promising regulatory environment make it an exceptionally attractive market opportunity, with online sports betting and casino expected to reach $5billion GGR in the next five years.

How we are exposed
Playtech is well positioned for success in the rapidly evolving Brazilian market via its partnership with Galerabet and several other B2B customers. In 2021, Playtech and Galerabet signed a structured agreement aiming to combine advanced gaming technology and expert knowledge of the local market in anticipation of the regulation in the Brazilian market. Galerabet is building a strong brand identity through sponsorship agreements with the prominent local sporting brands including the Brazilian Football Confederation and the Brazilian Basketball Confederation.

$5bn

Size of the Brazilian market over the long term based on GGR

640x360_Braz-Flag.png

Review of the year

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Chairman’s statement

“We have a clear and proven strategy across both B2B and B2C, underpinned by outstanding products and extremely talented colleagues in some of the most exciting and fastest growing markets worldwide.”

Chairman’s statement
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Chief Executive Officer’s statement

"The Group made important financial, strategic and operational progress in 2023. Looking ahead, we remain very confident in our ability to execute our strategy and to deliver value for our shareholders."

Chief Executive Officer’s statement
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Chief Financial Officer's statement

"2023 saw a strong financial performance across both B2B and B2C, with Adjusted EBITDA ahead of previously raised expectations."

Chief Financial Officer's statement

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