Playtech Plc (LON: PTEC) posted a surge in adjusted core profit in the first half. This was partly due to strength in the gambling technology company’s business-to-business (B2B) operations and its Italian unit but flagged possible economic headwinds.

Group-wide adjusted earnings before interest, tax, depreciation, and amortisation rose by 64 per cent to €203.8M during the period, beating the Company’s previous expectations. Revenue also increased by 73 per cent to €792.3M.
The Company’s chief executive officer (CEO), Mor Weizer, said that our B2B business powered success in the period in the Americas and Europe. He added that Playtech’s Snaitech division in Italy also drove overall growth in the six months, with core income increasing by 154 per cent to €131.7M due to the reopening of retail sites following the lifting of pandemic restrictions. However, this uptick in growth was offset by a modest decline in sales at Snaitech’s online business.

Founded by Teddy Sagi in 1999, the Company provides software for online casinos, online poker rooms, online bingo games, online sports betting, scratch games etc. Headquartered in Douglas, Playtech is “confident in its future prospects. However, it warned that the macroeconomic outlook remains uncertain, citing potential disruptions caused by the pressure from rising inflation and the war in Ukraine.