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Playtech

July 2024

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Playtech has reported “solid” trading in the first four months of FY’24. Although only a modest 4% EBITDA growth is expected, it’s nevertheless on course to grow from €254m to €450m between FY’20-’24. The key issue remains the dispute with major partner Caliente, which has grown their Caliplay joint venture so well in Mexico but is withholding funds (now held in a Court mandated Trust account) from Playtech as part of its dispute; it wants to buy Playtech out but the latter says that option has expired. Peel Hunt expects it to be resolved but if Caliente were to continue not paying Playtech throughout FY 24, it estimates net debt would be €250m higher with net debt / EBITDA 0.7x versus 0.1x (albeit still manageable). Meanwh ...

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Playtech (May 2024)

Playtech - Large eps upgrades simply not acknowledged by investors (November 2023)

Playtech - Huge gaming opportunity in Americas (May 2023)

Playtech - US$85m investment in Hard Rock Digital (April 2023)

Playtech - Another “beat”; CMD on 23rd March could flush out bid interest (March 2023)

Playetch - Debt repayment to save €20m by end next year (November 2022)

Playtech - Gaming software provider trading ahead of expectations; director buys highlight deep value (October 2022)

Playtech - TTB readying a knock-out bid (May 2022)

Playtech - New suitor emerges (January 2022)

Playtech (December 2021)

Playtech - Momentum in Americas to transform eps growth prospects (November 2021)

Playtech (October 2021)

Playtech - Gaming software firm benefiting from online surge (August 2021)

Playtech (May 2021)

Playtech (February 2021)

Playtech (November 2020)

Playtech - EBITDA approaching normalised levels (October 2020)

Playtech - Grant of New Jersey gaming licence opens up US$10bn US market opportunity (July 2020)

Playtech (April 2020)

Playtech - Looks like a sitting duck on 6.1x EV/EBITA (January 2020)

Playtech - Jefferies ups price target by 50p to 620p (October 2019)

Playtech (July 2019)

Playtech - Gaming software business dirt cheap on prospective PE of 7.7 (April 2019)

Playtech (January 2016)

Playtech (November 2015)

Playtech (July 2015)

Playtech - Acquisition lifts shares towards Â£8 (May 2015)

Playtech - Full year eps grows 28% (April 2015)

Playtech - Searching for major acquisition (March 2015)

Playtech (January 2015)

Playtech - EBITDA forecasts upgraded 10% (October 2014)

Playtech - Founder reduces shareholding (April 2014)

Playtech - Net cash: Eu 576m (November 2013)

Playtech - Strong hint of special dividend (June 2013)

Playtech - Huge new markets opening up for online software gaming firm (April 2013)

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Playtech

July 2024

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