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Playtech Records B2B Revenue Decline in H1 2019
- August 27, 2019 By Riley Wilson -
According to reports, in H1 2019 Playtech has experienced a decline in B2B revenue. The London-listed gaming supplier and operator of worldwide fame reported a 9% drop in B2B gambling revenues in H1 2019 and the reason seems to lie in continued struggles in Asian operations. On the other hand, the company’s 2018 acquisition of Italy’s Snaitech offsets the said decline as a 69 per cent increase in revenue to €736.1m is reported for H1 2019 as a direct result of the Snaitech consumer business in Italy.
As was originally predicted at the start of the year, Asia was expected to contribute approximately €150 in revenue for 2019. Right now, the expected amount is down €35m at €115m. The Asian market has now been deemed volatile; previously, Playtech claimed that Asian operations were stabilised at a solid annual run-rate. Now, the company expects the figures to drop down even further depending on how the situation in the Philippines develops. Numerous Playtech’s B2B Asia partners are located in the Philippines and China has recently suggested that the country should “ban all online gambling.” We’re yet to see if the Philippines will follow through.
Playtech’s H1 Report Mentions Europe, Latin America, US, Sweden and Snai Boost
The leading company’s report refers to regulated markets in Europe, Latin America and the US as the key markets to the brand’s continued growth. On the first day of the new regulation in Sweden, earlier in 2019, Playtech entered the market of the Scandinavian country, partnering with leading betting operators such as bet365, Paddy Power Betfair and others. Both this and the Snai acquisition were the high points of the H1 report of the British iGaming provider. By acquiring a 70.6% stake in Italian gambling firm Snaitech, Playtech experienced the much-needed revenue boost at just the right moment.
Playtech in a Nutshell
Playtech is one of the main leading brands in the gambling industry. The UK gaming supplier was founded in 1999 and the company is premium listed on the Main Market of the London Stock Exchange. Playtech produces high-end gambling software, services, content and platform technology across casino, live casino, sports betting, virtual sports, bingo and poker verticals. Headquartered in the Isle of Man, Playtech has offices in 17 different countries.