Playtech expects to exceed analyst estimations for adjusted EBITDA during its 2025 financial year, partly due to its growth and expansion across the Americas.
For the 12 months to 31 December 2025, Playtech said adjusted EBITDA will reach “at least” €195 million ($230 million). This would place the total ahead of initial estimates of between €150 million and €187 million.
The revelation came in a trading update published ahead of Playtech’s full FY25 results, due in March. The group noted “strong” trading in H2, driven by performance across the US and Mexico in Q4.
Notably, adjusted EBITDA increased despite several adverse factors. Among these was an operating loss from HappyBet, the German B2C business that Playtech sold in Q1 of 2025.
Playtech also referenced the amended agreement with Mexico-facing operator Caliente over the Caliplay joint venture. The new deal, signed in September 2024, saw Playtech stop receiving an additional B2B services fee. As such, revenue from the joint venture declined during the first half of 2025.
In addition, estimated adjusted EBITDA excluded the contribution from Snaitech for the period it was owned by Playtech in FY25. Playtech sold Snaitech to Flutter Entertainment in the first half of the year in a deal worth approximately €2.3 billion. This lined up with the supplier’s switch in strategy to become a pure-play B2B supplier.
“I’m delighted with the strong performance we saw at the end of 2025,” Playtech CEO Mor Weizer said. “We have been steadily investing across our business in the Americas for a number of years, and I’m particularly pleased with our recent progress in the US, as the benefits of our hard work start to accelerate and flow through to profitability.”
Concerns over UK tax rise
Its growth in the America could push earnings up again this year, the company reported, as it entered 2026 with “good momentum” due to returns on investments in recent years having “accelerated”.
Playtech referenced the UK’s recent increase in gambling tax as a “headwind” moving forward. Remote gaming duty will rise from 21% to 40% this April, while a new general betting duty for remote betting will be introduced in April 2027 at 25%, up from 15%.
Despite this, Playtech said that it retained a positive medium-term outlook, including an adjusted EBITDA guidance of €250 million to €350 million. On top of this, the group said free cash flow for the medium term would sit between €70 million and €100 million.
“We continue to invest selectively into the US and elsewhere in the Americas, where we see additional growth opportunities,” Weizer said. “While we remain mindful of wider sector headwinds, I am excited by the momentum we are building and the significant growth opportunity ahead.”
Original article: https://igamingbusiness.com/finance/full-year-results/playtech-surpass-earnings-forecast-fy25/
