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Europe-based gaming software provider Playtech, which has a strong presence in the US gambling industry, announced its fiscal year 2023 results. The company’s adjusted revenue was up 7%. Additionally, adjusted EBITDA, a measure of a company’s overall financial performance, was up 9% over FY 2022.
Among the key moves the company made this past fiscal year were partnerships with big US-based brands including Hard Rock Digital and Rush Street Interactive.
Highlights from Playtech’s FY 2023 financial report
The big news from Playtech’s year-end report is that the company’s adjusted revenue and EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) for global operations were up. In North America, the news was even better.
Playtech’s business-to-business revenue in the United States and Canada was up 74% annually. Its B2B (business-to-business) revenue was up 45% in Latin America, too.
A few of the US developments noted in Playtech’s FY 2023 report include:
- The company has spent considerable capital in the US because of the country’s expanding online casino and sports betting markets.
- Started or solidified partnerships with numerous brands for slots, online poker, and live dealer games
- Playtech opened its third live-dealer studio in the US, marking live-dealer games in the three biggest online casino markets in the country: Michigan, New Jersey, and Pennsylvania.
- The company holds licenses in 11 US states
Playtech Board Chairman Brian Mattingley deemed FY 2023 a success saying:
“I am pleased to be writing to you after another successful year for Playtech. The Company has built on the strong strategic and operational progress of recent years and continues to cement its leadership across both B2B and B2C…While there were many challenges in 2023, the consistent quality at the core of our business meant that we were able to upgrade our expectations during the year and deliver a strong financial performance.”
Playtech makes strides in gender equity
In addition to positive adjusted revenue and EBITDA, Playtech (LSE: PTEC) noted its female representation among its leadership team grew from 26% in 2022 to 30% in 2023. The company aims to reach 35% female leadership representation by 2025.
“In 2024, Playtech will continue to refine its understanding of gaps in female talent across the Group and take action to increase female retention,” the company said.
Top Playtech news in FY 2023
Over the past year, Playtech has made PlayUSA headlines with consistency. Here’s a snapshot of Playtech developments we covered since the beginning of 2023.
February 2023
On Feb. 7, Playtech teamed up with Hard Rock to offer table and live dealer games on New Jersey’s Hard Rock Bet online casino. Then, on Feb. 13, Playtech partnered with Gold Rush Gaming to provide sports betting kiosks in Ohio.
To wrap up the month, on Feb. 23, Playtech extended rights with Sony Pictures Television to offer “Who Wants To Be a Millionaire”-themed online slots through 2028.
March and July 2023
On March 20, Playtech acquired a single-digit stake in Hard Rock Digital in exchange for an $85 million investment.
And on July 20, Playtech launched a live online casino gameshow in New Jersey.
October 2023
Early on in the month, on Oct. 2, Playtech announced an expanded partnership with BetPARX Sportsbook in Maryland.
Then on Oct. 6, they scored another live casino win by getting rights to the “Family Feud” brand via distribution company Fremantle.
Capping off 2023
On Dec. 1, Playtech opened its third live-dealer studio for Pennsylvania online casinos. Following that, on Dec. 15, Playtech Vice President of Operations Jonathan Doubilet spoke with PlayUSA about the company’s efforts to advance responsible gaming.
Lastly, on Dec. 21, Playtech added its content to Boyd Gaming’s Stardust online casinos in New Jersey and Pennsylvania.
