Online gaming and financial trading giant Playtech PLC (LON:PTEC) released its trading volumes for the first half of 2020, which ended on 30 June. The company has benefited from making timely decisions in response to the Covid-19 induced market volatility and has delivered a resilient performance for the first half of the year driven by its financial division TradeTech Group (which includes CFH, Alpha, Markets.com).
Playtech reported resilient H1 with Adjusted EBITDA of €162.3 million (compared to €180.7 million in H1 2020) driven by TradeTech’s excellent perofrmance.
TradeTech Group delivered outstanding trading numbers for H1, affected by the exceptional market volatility and trading volumes throughout much of the period. Playtech’s financial divisions reached revenue of €87.3 million for H1 2020 with 123% growth compared to H1 2019.
Adjusted EBITDA for TradeTech was €52.8 million, registering a 544% increase (H1 2019: €8.2 million)
Playtech continues assessing its option for TradeTech. The company announced in August it was in in early stage discussions regarding a potential sale of the financial unit.
The company shared that for next half of the year TradeTech’s exceptional performance is not expected to be repeated with the market volatility subsiding now.
Playtech CEO Mor Weizer, commented:
The extraordinary trading conditions during the pandemic have brought us closer than ever to our licensees and we have seen even greater demand for our products, with an increased focus across the globe on intelligent software and personalised player journeys and protection tools. As the leading technology company in the gambling industry, our licensees look to us to deliver innovation that changes the way players experience gambling entertainment. Key to this approach is Sustainable Success, our new ESG strategy launched in H1, which aims to consolidate our position as a global leader in safer products, data analytics and player engagement solutions and build a safe and sustainable gambling industry for the benefit of all stakeholders.
Experienced writer and journalist, working in the global online trading sector, Steffy is the Editor of LeapRate. She has previous experience as a copywriter and has been with the company since January 2020. Steffy has a British and American Studies degree from St. Kliment Ochridski University in Sofia.