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Playtech’s Americas Expansion Drives First-Half B2B Growth

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Altay
Altay Celikkaya
Content Manager
Updated:
Reading Time: 3 minutes

Playtech reported a 10% increase in revenue from continuing operations to €425.1m for the six months ended 30 June 2026, supported by rapid B2B expansion across the Americas. B2B revenue rose 14% to €394.8m, while adjusted B2B EBITDA increased 75% to €128.1m. Revenue from the US and Canada climbed 161%, and underlying Latin American revenue grew 29% as Mexico and Colombia delivered stronger performances. The regional gains offset weaker UK trading, where customer changes and a higher Remote Gaming Duty reduced B2B revenue.

Playtech logo alongside a 161% increase in US and Canada revenue, set against a blue background with a subtle map of the Americas.

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Key Takeaways From Playtech’s H1 B2B Performance

  • Group revenue from continuing operations increased 10% to €425.1m.

  • B2B revenue advanced 14% to €394.8m and represented most of the group’s operating revenue.

  • Adjusted B2B EBITDA rose 75% to €128.1m as the segment’s margin expanded to 32%.

  • US and Canadian revenue reached €56.9m after increasing 161% year on year.

  • Latin American revenue rose 14% on a reported basis and 29% on an underlying basis.

  • UK B2B revenue declined 8% to €59m amid customer-specific changes and higher gaming duty.

North America Becomes the Main Growth Engine

The US delivered the strongest geographic contribution, led by Playtech’s partnership with Hard Rock Digital and the performance of Games powered by Past Motor Racing in Florida. Playtech said the product benefited from being first to market, although revenue is expected to normalise at a more sustainable level during the second half.

The supplier also expanded its regulated iGaming presence to six US states after entering Connecticut. Launches with Fanatics, FanDuel, DraftKings and Bet365 widened distribution across casino, live casino, poker and platform products. This supplier-level performance developed alongside broader digital casino growth, with US regulated iGaming revenue increasing 16.5% in the second quarter of 2026.

Canada added further momentum through new launches in Ontario’s regulated online casino market and growth from existing customers including DraftKings and FanDuel. The province remains the country’s principal competitive iGaming jurisdiction, while the wider Canadian online casino market continues to develop through separate provincial regulatory models.

Playtech is also positioned in Alberta, which opened its regulated commercial iGaming market in July and will be reported as a regulated jurisdiction from the second half. The launch expands the supplier’s addressable market in Canada and provides another route for deploying its platform, casino and live gaming products.

Mexico and Colombia Strengthen Latin American Revenue

Latin American revenue reached €99.9m, increasing 14% on a reported basis. Underlying growth was 29% after excluding the effect of revised commercial terms with Caliente Interactive, providing a clearer view of regional trading momentum.

Mexico remained central to Playtech’s investment income and B2B strategy. The company recognised €30.1m as its share of income from Caliente and received €37.4m in gross dividends before tax, which were not included in adjusted EBITDA. Higher World Cup marketing investment supported customer acquisition, while Mexico’s proposed federal gambling reform remains under executive review and could eventually reshape compliance requirements for digital operators.

Colombia revenue increased by more than 100%, supported by Playtech’s structured agreement with Wplay. The performance came as Colombia’s evolving online gambling tax framework continued to create uncertainty for operators, showing that commercial growth can persist even while fiscal policy is being revised.

Chief executive Mor Weizer said:

We saw continued momentum in regulated markets, particularly in the Americas.

Reported and Adjusted EBITDA Show Different Outcomes

Playtech’s official official half-year results reported group adjusted EBITDA of €162.5m, up 77% from €91.6m, with the adjusted margin increasing to 38%. This measure combines €128.3m of adjusted EBITDA from operations with €34.2m of adjusted investment income.

Reported EBITDA from continuing operations was lower at €86.8m, although it rose from €12.9m a year earlier. The €75.7m gap between reported and adjusted EBITDA reflected items including employee share option expenses, professional fees, incentive arrangements, restructuring costs, provisions and write-offs, and amortisation linked to investments in associates. Adjusted B2B EBITDA of €128.1m is a divisional measure and should not be presented as either group reported or group adjusted EBITDA.

UK Pressure Sharpens the Geographic Contrast

UK B2B revenue fell 8% to €59m after Remote Gaming Duty increased from 21% to 40% in April. Customer-specific changes, including the insourcing of self-service betting terminals by one operator, added to the decline. Europe excluding the UK grew 2%, or 10% after removing non-recurring hardware sales from the comparison.

Playtech generated €101m in free cash flow and ended June with net cash of €39.2m after a €25m share buyback. Management expects second-half adjusted EBITDA to be lower as Florida revenue normalises, investment in Brazil continues and the higher UK duty applies for a full six-month period. Even so, the company maintained its expectation of more than €270m in adjusted EBITDA for 2026.