Playtech PLC AGM Statement (2067O)
May 16 2018 - 2:00AM
UK Regulatory
TIDMPTEC
RNS Number : 2067O
Playtech PLC
16 May 2018
Playtech plc
('Playtech' or 'the Company')
AGM Trading Statement
Playtech (LSE: PTEC) is today hosting its Annual General Meeting
at which the Company will make the following statement:
"Playtech has made significant progress on its strategy in 2018,
both on an organic and inorganic basis.
"As announced earlier this year, new Sports and Casino
agreements have been secured, including with SAS in Portugal and
Totalizator Sportowy in Poland, which will deliver significant
long-term growth opportunities. The acquisition of Snaitech,
announced in April, will create the first vertically integrated
gambling operator in Italy and provides material earnings
accretion. Taken together, these strategic initiatives will
materially increase the proportion of Playtech's regulated revenues
and improve the diversification of the business.
"In the B2B Gaming division, excluding Asia, the average daily
revenues year to date have improved against the same period last
year and versus the trends reported at the time of the full year
results in February.
"As previously indicated, daily average revenues in Playtech's
B2B Gaming division in Asia are lower than in the same period last
year due to both strong comparatives and an increasingly
competitive backdrop. Management is taking steps to protect its
position in the region and drive revenues.
"The B2C Gaming Division is performing in line with expectations
with the Sun Bingo contract continuing to see some revenue
improvement.
"TradeTech Group has enjoyed a strong start to the year.
TradeTech Alpha, created in 2017 following the acquisition of
assets from ACM, continues to gain momentum and is providing a
positive contribution to the business.
"Playtech announced the conditional acquisition of Snaitech on
12 April 2018 and is pleased to note their results announcement
yesterday reporting 34% growth in Q1 2018 EBITDA. The general
meeting for Playtech shareholders to approve the acquisition is
being held on 29 May 2018, and Playtech expects to complete the
acquisition within the next few months.
"In addition to the Snaitech acquisition, we continue to explore
further M&A opportunities with complementary businesses in the
B2B Gaming division.
"Management is confident that achievements in 2017 and in 2018
to date have delivered a strong platform for further strategic and
operational progress in 2018."
- Ends -
For further information, contact:
Playtech plc
Mor Weizer, Chief Executive
Officer
Andrew Smith, Chief Financial
Officer
c/o Headland
James Newman, Head of
Investor Relations &
Corporate Communications +44 (0)20 3805 4822
Headland Consultancy
Lucy Legh, Stephen Malthouse +44 (0)20 3805 4822
About Playtech
Founded in 1999 and premium listed on the Main Market of the
London Stock Exchange, Playtech is a market leader in the gambling
and financial trading industries.
Playtech is the gambling industry's leading software and
services supplier to many of the world's leading regulated online,
retail and mobile operators, land-based casino groups, government
sponsored entities such as lotteries and new entrants opening
operations in newly-regulated markets. Its business
intelligence-driven gambling software offering includes casino,
live casino, bingo, poker and sports betting.
It is the pioneer of omni-channel gambling which, through
Playtech ONE, offers operators and their customers a seamless,
anytime, anywhere experience across any product, any channel
(online, mobile, retail) and any device using a single account and
single wallet. It provides marketing expertise, sophisticated CRM
solutions and other services for operators seeking a full turnkey
solution. Playtech's Financials Division, named TradeTech Group,
operates both on a B2C and B2B basis.
Playtech has in total c.5,000 employees across 17 countries.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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