Playtech reported that its financial performance for the 2025 fiscal year should exceed earlier expectations, supported mainly by business expansion across North and Latin America. The company issued a trading update ahead of its full annual results, which are scheduled for release in March. Executives indicated that recent operational progress, particularly in regulated markets in the Western Hemisphere, contributed to stronger projections.
Stronger Americas performance drives FY25 outlook
For the twelve months ending 31 December 2025, Playtech expects adjusted EBITDA of at least €195 million. This estimate exceeds previous analyst projections that ranged between €150 million and €187 million, while also surpassing a broader market consensus figure of approximately €177 million.
Management linked this improvement primarily to trading conditions in the United States and Mexico during the final quarter of 2025. Performance in those regions lifted results despite structural adjustments to the business during the year. The disposal of Snaitech in early 2025 formed part of Playtech’s shift toward a business-to-business operating model. The transaction, valued at roughly €2.3 billion, removed the Italian brand’s contribution from subsequent earnings calculations.
Other developments also influenced reported figures. The company sold its German B2C operation HappyBet in the first quarter of 2025, which created an operating loss that affected the year’s adjusted results. An updated agreement regarding the Caliplay joint venture in Mexico, signed in September 2024, eliminated an additional B2B services fee previously received by Playtech. That change reduced joint venture revenue during the first half of 2025.
Mor Weizer commented on the performance trajectory: “I’m delighted with the strong performance we saw at the end of 2025. 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.”
Strategy shift and market reaction
Adjusted EBITDA for 2025 remains significantly lower than the €480.4 million reported for 2024, when Snaitech still contributed to results before its sale. Market participants initially treated the transition toward a B2B-focused structure cautiously. Investor sentiment began to improve later in 2025 as operational indicators began to strengthen.
Following the trading update, Playtech shares rose roughly two to three percent on the London Stock Exchange, reaching around £2.87. Earlier in the year, the stock had experienced volatility, including a drop to about £2.10 after a special dividend distribution connected with the Snaitech transaction. Prices later recovered, climbing above £3 in late January before stabilising near current levels.
Analysts monitoring the company noted that updated guidance supports expectations for stronger earnings development in the coming period. Forecast adjustments for 2026 included a modest increase in expected adjusted EBITDA, while commentary also referenced potential contributions from product launches in Florida and possible commercial arrangements in Brazil.
Tax changes and forward financial guidance
Management acknowledged regulatory cost pressures affecting the gaming sector. The United Kingdom will raise remote gaming duty from 21 percent to 40 percent in April, and a revised remote betting duty of 25 percent is planned for introduction in April 2027. Executives identified these developments as a factor likely to influence future profitability.
Despite these considerations, Playtech maintained a positive medium-term financial outlook. The company provided adjusted EBITDA guidance between €250 million and €350 million, alongside projected free cash flow ranging from €70 million to €100 million. Continued investment across the Americas remains part of its operational strategy as it moves further into 2026.
Weizer added: “We continue to invest selectively into the US and elsewhere in the Americas, where we see additional growth opportunities. While we remain mindful of wider sector headwinds, I am excited by the momentum we are building and the significant growth opportunity ahead.”
Playtech executives stated that results in regulated markets across North and Latin America helped establish a stronger starting position for 2026. They indicated that earlier investments in those territories have begun translating into measurable financial returns.
Source:
Playtech Lifts 2025 Outlook After Strong Q4 in the Americas, livedealers.com, February 6, 2026
