Playtech expects adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) of more than €300 million for 2026, following stronger-than-expected trading between July 1 and October 31. The November 10 update attributes the improvement to continued growth in the Americas. Before the announcement, analyst consensus stood at €279 million.
CEO Mor Weizer said: “We have continued to deliver an excellent performance in 2026 to date, reflecting sustained momentum in regulated markets, notably the Americas.” The company highlighted its U.S. partnership with Hard Rock Digital, while Mexico and Colombia benefited from activity following the men’s FIFA World Cup.
Playtech’s Past Motor Racing product continued to perform strongly, but competing suppliers are expected to take a greater share of spending in 2027. Playtech expects to absorb the three-month impact of Brazil’s market shutdown on its 2026 adjusted EBITDA, but warned of a more significant effect in 2027 if the shutdown continues. The company also anticipates a full year of higher U.K. Remote Gaming Duty and increased taxation elsewhere in Europe.
The update provides no new numerical guidance for 2027. It identifies the existing analyst consensus of €266 million, which should be distinguished from management’s own forecast. Its warning therefore concerns pressures on next year’s performance, while the explicit guidance upgrade applies to the year ending December 31, 2026.
Upgrade follows strong first-half earnings
The new outlook follows September’s guidance for full-year adjusted EBITDA above €270 million. In its half-year results, Playtech separately identified €250 million–€300 million as its medium-term target range. That range was not the previous annual guidance, an important distinction when assessing the scale of the latest revision.
For the six months ended June 30, revenue from continuing operations increased 10% to €425.1 million, while adjusted EBITDA rose 77% to €162.5 million. Unadjusted EBITDA was €86.8 million, compared with adjusted EBITDA of €162.5 million, reflecting the effect of adjustments excluded from the company’s preferred performance measure.
First-half B2B revenue increased 14% to €394.8 million. Revenue from the U.S. and Canada rose 161%, predominantly supported by games powered by Past Motor Racing with Hard Rock Bet in Florida. Playtech had already cautioned that this contribution would normalize at a more sustainable level during the second half.
The September report also showed U.K. B2B revenue falling 8%, reflecting customer changes and increased Remote Gaming Duty. Nevertheless, first-half free cash flow reached €101 million, and Playtech ended June with net cash of €39.2 million, excluding lease liabilities. Those figures provide the financial background to the stronger annual earnings outlook announced on November 10.
