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B2B Revenue of Playtech Declines in H1 2019

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The B2B revenue of Playtech has declined in H1 2019. This was driven by the Snaitech acquisition. The operator contributed €395.8m in revenue for H1, a significant increase on the €61.3m generated from Playtech’s stake in the business in 2018.

Group revenue for the six months to 30 June 2019 amounted to €736.1m, a 69% year-on-year increase from H1 2018, when the supplier reported revenue of €436.5m. Growth was largely down to increased B2C revenue, which soared 345% to €438.2m.

The Snaitech-driven B2C growth was not matched by Playtech’s core B2B operations, with revenue down 9% year-on-year at €265.5m. The decline was due in part to a 24% drop in casino revenue to €129.8m, offset by growth in B2B sports revenue, which rose 27% to €60.6m.

Playtech’s significant growth in size and scale prompted by the Snaitech deal contributed to a sharp increase in distribution costs, which almost doubled to €492.8m, and administrative expenses, which grew to €78.9m.

A further charge of €4.6m relating to the impairment of other receivables, which left earnings before interest, tax, depreciation and amortisation of €159.8m, up 32.7% year-on-year.

However, Playtech was then hit by significantly increased depreciation and amortisation, as a result of the acquisition of Snaitech. Depreciation increased by 52% to €24.9m, of which €8.8m was incurred through Snaitech. Excluding acquired assets, underlying depreciation increased by 6%.

Based on the H1 figures, Playtech has reiterated its adjusted EBITDA projection for the year of between €390m and €415m and expected B2B and Snaitech to perform well for the remainder of 2019.


Source: European Gaming Media
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: B2B Revenue of Playtech Declines in H1 2019

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Week 9/2020 slot games releases

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Week 9/2020 slot games releases  Here are this weeks latest slots releases! Evoplay Entertainment, the innovative game development studio, has announced the launch of the industry’s first ever role-playing game (RPG) slot, Dungeon: Immortal Evil. The result of over a year’s research and development, Dungeon: Immortal Evil harnesses the latest in 3D gaming technology to offer players the first ever slot-based […]
Source: European Gaming Media
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: Week 9/2020 slot games releases

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Prague Gaming Summit 2020 Sponsor profile – DS Virtual Gaming (General Sponsor)

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  DS Virtual Gaming among the General Sponsors at Prague Gaming Summit 2020.   A new record has been broken this year at Prague Gaming Summit and we are happy to announce that we had to supplement the seats as the regular tickets have been sold out. The 2020 edition of the Prague Gaming Summit, […]
Source: European Gaming Media
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: Prague Gaming Summit 2020 Sponsor profile – DS Virtual Gaming (General Sponsor)

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Winners of the historical gala of Polish Gaming Aces 2019 were chosen

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Winners of the historical gala of Polish Gaming Aces 2019 were chosen  For the first time in history after the amendment to the gambling act in Poland, awards were granted to companies in the entertainment industry. The Polish Gaming Aces Gala, which was created on the initiative of the largest Polish entertainment website – Interplay, was held on February 20th at City Hall Production in Warsaw. […]
Source: European Gaming Media
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: Winners of the historical gala of Polish Gaming Aces 2019 were chosen

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