Playtech confirmed a decrease in profits by 38%

26 August 2018

On August 23, the Playtech developer set new targets for the Asian segment, due to a significant decrease in profits for the first six months of 2018.

Adjusted net profit of Playtech fell by 38% year on year from €125.5 million to €83.3 million (£74.8 / $96.3 million), and profit before interest decreased by 13% - from €170.9 million to €145 million.

At the same time, revenue increased by 6% - from €421.6 million to €436.5 million, and total sales, excluding the Asian market, increased by 35%, according to the report.

The average daily income in B2B Gaming for the first 52 days of the third quarter of 2018 decreased by 13% compared to the same period in 2017. Excluding the Asian segment, the average daily income increased by 6%. Playtech Chairman Alan Jackson acknowledged the "disappointing" results of work in Asia.

"It should be noted that the obstacles in the Asian market do not reflect the aggregate performance of Playtech, as the regulated segment continues to demonstrate organic growth and stimulate the dynamics," - Jackson commented.

However, he noted progress, explaining that increasing the influence of Playtech in regulated markets leads to an increase in the company's share of revenues from 50 to 69%. It is expected that in the future the income at the current exchange rate will be about 80% for the whole year.

In June, Playtech also received approval from the Italian financial regulator Consob for the takeover of Snaitech.

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