Playtech PLC (PYTCF) Q2 2023 Earnings Call Transcript

Playtech PLC (OTCPK:PYTCF) Q2 2023 Earnings Conference Call September 7, 2023 4:00 AM ET

Company Participants

Moran Weizer – CEO & Executive Director

Chris McGinnis – CFO & Director

Conference Call Participants

Roberta Ciaccia – Investec Bank

David Brohan – Goodbody Stockbrokers

Ivor Jones – Peel Hunt

Edward Young – Morgan Stanley

Simon Davies – Deutsche Bank

Richard Stuber – Numis

Moran Weizer

Good morning, everyone. It’s good to see lots of familiar faces here today as well as some new ones. I’d like to thank you all for attending our H1 Interim Results Presentation, and welcome to those that are joining us online.

On to Slide 2. I’ll begin by taking you through the highlights before handing over to Chris McGinnis, our Chief Financial Officer, who will take you through a review of the financials and the outlook. I’ll then return to update you on how we are progressing against our strategic priorities.

Turning now to Slide 3. I’m pleased to report an excellent performance in the first half of the year. We delivered a record H1 adjusted EBITDA of €220 million, up 10% year-on-year. The B2B division is showing good momentum and is well positioned across multiple growth opportunities as we head into the back end of the year.

The Americas continues to deliver impressive growth led by strong performances from our structured agreements. The comprehensive agreement signed with the iconic brand Hard Rock Digital as well as encouraging early signs with and other new initiatives, means we are excited about our medium-term prospects in the region.

The Live division continues to deliver solid revenue growth as we capitalize on the public’s growing appetite for this type of product and content. Increased investment in content, concepts and infrastructure should ensure that we are well positioned and well placed to

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