Playtech registers impressive increase in sales

A few days ago the software developer Playtech published its financial figures for the first six months of 2022. These figures show that the company has registered an impressive increase in turnover of 73% when compared to the first six months of 2021. What are the reasons for this double increase in turnover for Playtech within just one year?

In the first six months of 2022 Playtech has generated a turnover amounting to 792.3 million Euro. As a comparison: In the first six months of 2021 the turnover stood at “only” 457.4 million Euro. Consequently, the software company which is based on the Isle of Man has managed to increase its six-monthly turnover by nearly 335 million Euro within just a year. In August we had asked in an article, whether the people are playing less because of inflation and the energy crisis.

What are the reasons behind this impressive increase in sales?

When compared to the first six months of 2021 Playtech has increased its turnover with a record breaking 73 %. The positive developments on the regulated B2B markets in South and North America and also in Europe are the main contributors to this impressive increase. The American continent with Brazil and Mexico has contributed widely to this positive sales trend.

The director of Playtech, Mor Weizer, was pleased with this positive sales trend. In a statement he announced that the company planned to apply for further licences, and it soon wanted to launch the Parx Casino in Pennsylvania. Around a year ago we had already reported on GambleJoe that the desired GamCare-Award for the best player protection had been awarded to Playtech.

Besides this, Playtech could profit from the restrictions which were imposed on the land based gambling sector in the first six months of the year because of the Corona pandemic. Besides this, in 2019 Playtech had already taken over the Italian sports betting provider Snaitech. In the next year Playtech then proceeded to set up the online section of the betting provider. As we had already reported in April of this year the whole online gambling market is expected to increase enormously by 2030.

Conclusion

The software provider is also optimistic about the current second half of the year – despite several risk factors as for example the Russian attack on Ukraine. The development in sales trends between the first six months of 2021 and those of 2022 is however impressive. Within a year the turnover has increased significantly by over 70 %.

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