Playtech PLC reported weaker financial results for 2025 while reiterating confidence in its long-term strategy and growth prospects. The gambling technology provider pointed to structural changes and strong performance in the Americas as factors shaping the company’s direction.
The Douglas, Isle of Man-based firm recorded a pretax loss of €128.6 million for the year, compared with a €9.4 million loss in 2024. Revenue declined 10% to €763.6 million from €848.0 million a year earlier. Adjusted earnings before interest, tax, depreciation and amortisation reached €197.0 million, down from €217.5 million the previous year.
Despite the decline, the result exceeded the company’s February guidance. Playtech had projected adjusted EBITDA of at least €195 million, a level it described as “significantly” above the €177 million consensus estimate.
Strategic Reset Reshapes The Group
Playtech completed several transactions in 2025 that altered the structure of the company. The group finalized the €2.3 billion Snaitech sale in April, producing more than three times its cash return on investment. Playtech also returned capital through a €1.8 billion special dividend and repurchased 8.3% of its shares for €77 million during the second half of the year.
These steps shifted the company toward a technology-focused business model supplying gambling operators. Chief Executive Mor Weizer described the year as “a year of significant transition for Playtech, as we completed the sale of Snaitech and returned to our roots as a leading, global, predominantly pure-play B2B business.”
By the end of 2025, Playtech held a net cash position of €29 million, compared with net debt of €142.8 million at the end of the prior year.
Agreement Change Affects Revenue Structure
Part of the change in reported performance came from a revised agreement with Caliente Interactive Inc., an online sports betting operator focused on Mexico. As of March 2025, Playtech stopped receiving an additional business-to-business services fee that had previously been recorded as revenue.
Instead, Playtech now records income through its 30.8% equity stake in the operator. The company said the revised arrangement supports long-term expansion and “future growth, driving meaningful investment income alongside ongoing operating revenue.”
Management added that underlying software fees from Caliente “grew strongly” during the year.
Americas Growth Supports Outlook
Executives highlighted strong performance in the Americas as a driver of growth. Playtech said its key markets in the region exceeded expectations during 2025 and reported positive momentum continuing into early 2026.
Playtech expects adjusted EBITDA in 2026 to come in ahead of current consensus expectations despite regulatory pressures in several markets.
The company continues to target medium-term adjusted EBITDA of €250 million to €300 million alongside €70 million to €100 million in free cash flow. Free cash flow declined to €29.5 million in 2025 from €73.1 million a year earlier.
Weizer said: “The strong momentum we saw in 2025 has carried over into the start of 2026, particularly in the Americas. We remain confident in achieving our ambitious medium-term targets and see exciting opportunities for the group across our markets.”
Source:
“Playtech – 2025 Full Year Results”, investors.playtech.com, March 2026
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