Playtech delivered a stronger-than-expected first half of 2026, with growth in the Americas and higher investment income helping drive a sharp improvement in profitability and cash generation.
Revenue reached €425.1 million for the six months to June 30, up 10% from €387.0 million a year earlier. Adjusted EBITDA climbed 77% to €162.5 million, while adjusted post-tax profit rose 472% to €95.0 million.
Free cash flow also improved substantially, reaching €101.0 million compared with €29.5 million for the full year of 2025. The company ended June with €39.2 million in net cash, excluding IFRS 16 lease liabilities.
Americas Remain Central To Growth
The Americas produced some of Playtech’s strongest gains. Revenue from the US and Canada increased 161% year over year, supported mainly by Games powered by Past Motor Racing through Hard Rock Bet in Florida.
Playtech expanded its regulated US presence to six states after launching in Connecticut. It also added Fanatics across several states, FanDuel in West Virginia and Bet365 in Michigan.
Management expects Florida’s unusually strong performance to settle at a more sustainable level during the second half.
Latin America also continued to contribute, with underlying revenue increasing 29%, driven by Mexico and Colombia. Customer acquisition strengthened during the 2026 FIFA World Cup.
“Playtech has delivered a first half significantly ahead of our expectations at the start of the year, demonstrating the strength of our technology, the quality of our customer partnerships and the disciplined execution of our strategy.”
Investment Income Adds Further Support
B2B revenue rose 14% to €394.8 million, while adjusted EBITDA from the division increased 75% to €128.1 million. Regulated markets accounted for 83% of B2B revenue, compared with 81% a year earlier.
SaaS revenue increased 20%, while Live revenue grew 8%. Playtech also added 13 brands to Playtech Protect during the period, taking adoption to 41 brands across 16 jurisdictions.
Investment income provided another significant contribution. Adjusted investment income reached €34.2 million, largely reflecting Playtech’s 30.8% holding in Caliente Interactive. Net dividends from the investment totalled €35.8 million during the first half.
Playtech’s equity investment in HRD was valued at €246.7 million at the end of June, up from €178.8 million at December 31, 2025.
The company also completed €25 million of share buybacks during the first half, representing about 1.8% of issued share capital. Since September 2025, Playtech has repurchased 10% of its issued share capital for around €100 million.
The company said it had made a strong start to the second half but expects adjusted EBITDA to be lower than in H1 as HRD revenue normalizes and UK remote gaming duty affects the full period.
Playtech remains on track to generate more than €270 million in adjusted EBITDA during 2026. It also expects to reach the upper end of its medium-term adjusted EBITDA and free cash flow targets earlier than anticipated.
Source:
“Exceptional H1 profit and cash flow driven by strategic execution in the Americas”, investors.playtech.com, September 2026
