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Playtech Reveal 7% Increase In Revenue After Reaching $1.8 Billion During 2023

Louis Fargher

Gambling software firm, Playtech, has released its financial reports for 2023, as Playech reveal 7% increase in revenue.

Playtech Reveal 7% Increase In Revenue

During the fiscal year, Playtech reached an over revenue of $1.8 billion and saw an increase from the $1.6bn during 2022.

The overall rise in the supplier’s financial report can be linked to the progression in business-to-business and business-to-customer endeavors.

When looking at the business-to-business section, Paytech’s overall revenue increased by 8% and saw huge progression across North/South America – increasing by 46%.

The success can be put down to a host of reasons, including strategy decisions that saw collaborations with a list of operators in American states and an agreement with Hard Rock Digital.

Business-to-customer ploys also saw an up-rise, growing by 5% and supported by the Italian sports betting operator, Snaitech.

The CEO at Playtech, Mor Weizer, revealed how the financial rise relied on the importance of strategy and expanding across the United States of America.

He said: “As well as delivering excellent financial results, the Group made important strategic and operational progress including our expansion across the US, opening a third Live Casino facility in Pennsylvania and taking the number of licences granted to 11 with further applications pending,

“Our B2C division delivered revenues exceeding €1bn for the first time and Snaitech remains well positioned to benefit from the under-penetration of the online segment, given the strength of the brand, the continuous improvements to apps and technology and a broadening of its content offering,

“Underpinning this performance are our 7,700 talented colleagues around the world. Despite the significant disruption from geopolitical conflict during the year, they have continued to deliver for our customers and we are truly grateful to them all.”

For 2024, Playtech is directing its focus to keeping the targets, adjusted by EBITDA, at around $210m and $310m for business-to-business and business-to-customer operations respectively.

A step has already been made to maintain the standards, as Playtech opened its iPoker tournament series in January 2024 – starting The Elite Series Winter Edition.

The series broke records for iPoker participation and Playtech has also continued the partnership with Polish online games comapny, Totalizator Sportowy.

Louis Fargher
Louis Fargher

Louis is a news and features writer, specializing in gambling and sports. Louis has contributed different forms of content for professional sports teams, whilst acquiring a degree in journalism in the UK and has years of writing experience within the gambling industry.