Igaming technology provider Playtech reported that adjusted EBITDA in its B2B business was “ahead of schedule” in 2024 as overall group revenue grew five per cent year-on-year.
B2B adjusted EBITDA grew 22 per cent to €220m, up from €182m in 2023 and reaching the medium-term target of between €200m and €250m set two years ago.
B2B revenue grew 10 per cent to €754.3m, with the Americas – where revenue rose 19 per cent to €251.6m – the “biggest driver” of growth.
Within that region, the US and Canada were particular highlights for Playtech, with revenues there rising 126 per cent to €29.8m.
Playtech’s B2C revenues were up two per cent year-on-year to €1.05bn, while adjusted EBITDA climbed three per cent to €258.4m.
In its 2025 outlook, the company said it had enjoyed a “good start” to the year, reflective of “strong underlying growth trends in B2B.”
Playtech’s next medium-term adjusted EBITDA target is between €250m and €300m, reflecting the revised terms of its Caliplay agreement.
CEO Mor Weizer said: “2024 was a landmark year for Playtech. We successfully reached an agreement to sell Snaitech to Flutter Entertainment, delivering significant value to our shareholders while enabling Playtech to refocus predominantly on its core strengths as a pure-play B2B business.
“Additionally, we are pleased to have secured a revised strategic agreement with Caliplay, our partner in Mexico, providing greater certainty and a strong foundation for future growth.
"Our core B2B business had an outstanding year, achieving the medium-term target we set two years ago ahead of schedule. The Americas saw substantial revenue growth, with Wplay in Colombia delivering a particularly strong performance.
“Meanwhile, our expansion in the US and Canada continues to gain momentum as we sign up and launch with a growing list of operators.
"The combination of Playtech's industry-leading technology with its exposure to attractive markets underpins our confidence in the Group's new medium-term targets. We are excited about the future and the many opportunities ahead."
