PLAYTECH AGM Statement

Transparency directive : regulatory news

16/05/2018 07:00
Playtech PLC  -  PTEC   

AGM Statement


Released 07:00 16-May-2018

Playtech plc


 


('Playtech' or 'the Company')


 


 


AGM Trading Statement


 


 


Playtech (LSE: PTEC) is today hosting its Annual General Meeting at which the Company will make the following statement:


"Playtech has made significant progress on its strategy in 2018, both on an organic and inorganic basis.


"As announced earlier this year, new Sports and Casino agreements have been secured, including with SAS in Portugal and Totalizator Sportowy in Poland, which will deliver significant long-term growth opportunities. The acquisition of Snaitech, announced in April, will create the first vertically integrated gambling operator in Italy and provides material earnings accretion. Taken together, these strategic initiatives will materially increase the proportion of Playtech's regulated revenues and improve the diversification of the business.


"In the B2B Gaming division, excluding Asia, the average daily revenues year to date have improved against the same period last year and versus the trends reported at the time of the full year results in February.


"As previously indicated, daily average revenues in Playtech's B2B Gaming division in Asia are lower than in the same period last year due to both strong comparatives and an increasingly competitive backdrop. Management is taking steps to protect its position in the region and drive revenues.


"The B2C Gaming Division is performing in line with expectations with the Sun Bingo contract continuing to see some revenue improvement.


"TradeTech Group has enjoyed a strong start to the year. TradeTech Alpha, created in 2017 following the acquisition of assets from ACM, continues to gain momentum and is providing a positive contribution to the business.


"Playtech announced the conditional acquisition of Snaitech on 12 April 2018 and is pleased to note their results announcement yesterday reporting 34% growth in Q1 2018 EBITDA. The general meeting for Playtech shareholders to approve the acquisition is being held on 29 May 2018, and Playtech expects to complete the acquisition within the next few months.


"In addition to the Snaitech acquisition, we continue to explore further M&A opportunities with complementary businesses in the B2B Gaming division.


"Management is confident that achievements in 2017 and in 2018 to date have delivered a strong platform for further strategic and operational progress in 2018."


  


- Ends -


 


 


For further information, contact:


 














Playtech plc


 


Mor Weizer, Chief Executive Officer


Andrew Smith, Chief Financial Officer


c/o Headland


 


James Newman, Head of Investor Relations & Corporate Communications


 



+44 (0)20 3805 4822


 



Headland Consultancy


Lucy Legh, Stephen Malthouse


 



+44 (0)20 3805 4822


 



 


About Playtech


 


Founded in 1999 and premium listed on the Main Market of the London Stock Exchange, Playtech is a market leader in the gambling and financial trading industries.


Playtech is the gambling industry's leading software and services supplier to many of the world's leading regulated online, retail and mobile operators, land-based casino groups, government sponsored entities such as lotteries and new entrants opening operations in newly-regulated markets. Its business intelligence-driven gambling software offering includes casino, live casino, bingo, poker and sports betting.


It is the pioneer of omni-channel gambling which, through Playtech ONE, offers operators and their customers a seamless, anytime, anywhere experience across any product, any channel (online, mobile, retail) and any device using a single account and single wallet. It provides marketing expertise, sophisticated CRM solutions and other services for operators seeking a full turnkey solution. Playtech's Financials Division, named TradeTech Group, operates both on a B2C and B2B basis.


Playtech has in total c.5,000 employees across 17 countries.



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