Playtech Plc Financial Profile: B2B Gaming Technology, CEO Mor Weizer Leadership & Americas Market Expansion

In 2025, Playtech transformed into a predominantly B2B-focused business following the €2.3 billion sale of its Italian subsidiary Snaitech to Flutter Entertainment. Under CEO Mor Weizer’s leadership since 2007, the company delivered strong B2B growth with revenues increasing 10% to €754.3 million in 2024. The Americas region emerged as the primary growth driver, with revenue surging 19% year-over-year. Playtech’s strategy centers on expanding in regulated markets, particularly the US, Canada, and Latin America, while maintaining technology leadership in live casino and platform solutions.

Company History

Israeli entrepreneur Teddy Sagi founded Playtech in Tartu, Estonia in 1999. He assembled experts from casino, software engineering, and multimedia industries. The company launched its first casino product in 2001. Playtech listed on the London Stock Exchange in 2006. This marked a major milestone in establishing market credibility. Over two decades, Playtech grew through strategic acquisitions and organic expansion. In 2018, the company acquired a 70.6% stake in Italian betting firm Snaitech for €846 million enterprise value. In 2024, Playtech rebranded as a pure-play B2B technology provider after agreeing to sell Snaitech to Flutter. Today, the company powers platforms for over 180 licensees globally.

CEO Profile

Mor Weizer has served as CEO and Executive Director since May 2007. He brings nearly 18 years of leadership experience to Playtech. Before becoming CEO, Weizer led Playtech subsidiary Techplay Marketing. His background includes roles at Oracle as a development consultant and product manager. He also worked at PricewaterhouseCoopers as an auditor and financial consultant. Under Weizer’s tenure, Playtech achieved its B2B adjusted EBITDA target of €222 million in 2024, ahead of schedule. He successfully navigated the company’s transformation to B2B focus. Weizer expanded Playtech’s presence in the Americas, which grew 126% in the US and Canada during 2024. His strategic partnerships with Hard Rock Digital and MGM Resorts strengthened market position.

Key Business Segments & Revenue Streams

Playtech operates primarily through its B2B division, which generated €754.3 million in revenue in 2024. The B2B segment provides gambling software to operators through revenue-share agreements. Core products include casino platforms, live dealer technology, sports betting solutions, and poker networks. The company’s PAM+ platform offers account management and player engagement tools. Live casino revenue grew 24% in regulated markets during 2024. The Americas represents the fastest-growing region, contributing €251.6 million. US and Canada revenue reached €29.8 million, up 126% year-over-year. Latin America showed strong performance driven by Wplay in Colombia and growth in Brazil. Playtech’s SaaS business achieved €80 million revenue in 2024, growing 59%. The company maintains a 30.8% equity stake in Caliplay, its Mexican partner.

Financial Profile

Playtech demonstrated solid financial performance through 2024 and into 2025. Revenue from continuing operations grew 10% to €848 million in 2024. Adjusted EBITDA increased 22% to €222 million. The company’s EBITDA margin expanded 280 basis points, reflecting strong operating leverage. Net debt declined from €282.8 million in 2023 to €142.8 million in 2024. Group leverage improved to 0.3x in 2024 from 0.7x in 2023. The Snaitech sale completed in April 2025 generated net cash proceeds of €2.0 billion. Playtech returned €1.8 billion to shareholders through a special dividend. As of June 2025, the company held a net cash position of €77.1 million. First-half 2025 revenue from continuing operations was €387 million. Adjusted EBITDA reached €91.6 million in H1 2025. The company redeemed its remaining €150 million bond in 2025, strengthening the balance sheet.

Financial Data

Core Financial Metrics (Last 3 Years)

Revenue by Region – B2B Segment (Last 3 Years)

Latest Financial Report

Playtech released its H1 2025 results on September 11, 2025. The company reported revenue of €387 million from continuing operations, down 10% year-over-year. This decline reflected the revised Caliplay agreement effective March 31, 2025. Adjusted EBITDA was €91.6 million, down 16% from H1 2024. The period included the Snaitech sale completion on April 30, 2025, generating €2.0 billion in proceeds. Playtech paid a special dividend of €1.8 billion to shareholders. The company reported profit after tax of €1.58 billion, driven by the €1.61 billion gain on Snaitech disposal. Management confirmed the company is on track to deliver full-year 2025 adjusted EBITDA ahead of expectations. The B2B segment showed resilience despite the Caliplay agreement changes.

12-Month Earnings Summary

For the trailing twelve months through mid-2025, Playtech generated approximately €875 million in revenue. The company transitioned to a pure-play B2B model following Snaitech’s sale. Adjusted EBITDA performance remained strong in core B2B operations. The Americas continued as the primary growth engine, with particular strength in Colombia and Brazil. US expansion gained momentum with partnerships including Hard Rock Digital, MGM Resorts, Ocean Casino, and Delaware North. Live casino revenue maintained strong growth trajectory. SaaS revenues exceeded €80 million, reaching the top of the target range. The company achieved positive free cash flow generation. New medium-term targets were set: adjusted EBITDA of €250-300 million and free cash flow of €70-100 million.

References

1. H1 2025 Results – Playtech Investor Relations
2. FY 2024 Full Year Results – Playtech plc
3. FY 2023 Full Year Results – Playtech plc
4. Revenue rises at Playtech in 2024 – iGaming Business
5. Playtech Reports H1 2025 Results – Directors Talk Interviews
6. About Us – Playtech Official Website
7. Playtech – Wikipedia
8. Playtech plc – London Stock Exchange