Playtech reports impressive increase in sales

The software developer Playtech published its business figures for the first half of 2022 a few days ago. According to this, the company was able to increase its sales by an impressive 73% compared to the first half of 2021. But why is it that Playtech was able to almost double its sales within a year?

Playtech reports impressive increase in sales

Playtech generated total sales of EUR 792.3 million in the first half of 2022. For comparison: In the first half of 2021 it was “only” 457.4 million euros. As a result, the software company based on the Isle of Man managed to increase its half-year sales by almost 335 million euros within a year. In August, we asked ourselves in an article whether people were playing less because of inflation and the energy crisis.

What are the reasons for the impressive increase in sales?

Compared to the first half of 2021, Playtech has grown its revenue by a record 73% in the first half of this year. This is mainly due to the positive developments on the regulated B2B markets in South and North America and also in Europe. In particular, the American continent with Brazil and Mexico made a significant contribution to the positive sales development.

Playtech’s managing director, Mor Weizer, was pleased with the positive sales development. In a statement, he announced that he would submit further license applications and that he would soon be launching Parx Casino in Pennsylvania. More than a year ago we reported on GambleJoe that the coveted GamCare award for best player protection went to Playtech.

Playtech is a global software provider based on the Isle of Man. The listed company was founded in 1999, 23 years ago. The software company develops software for online casinos and has already released many successful online slots, scratch games, bingo games and live dealer games. About a year ago, Australian slots maker Aristocrat made a $3.7 billion takeover bid for Playtech.

In addition, Playtech was able to benefit from the corona-related restrictions in the land-based gaming sector, which still existed in the first half of 2021. In addition, Playtech took over the Italian sports betting provider Snaitech in 2018. In the years that followed, Playtech successfully expanded the betting provider’s online division in particular. As we reported in April of this year, the entire online gambling market is expected to grow enormously by 2030.

Conclusion

The software provider is also optimistic for the current second half of 2022 – despite various risk factors such as the Russian war of aggression in Ukraine. However, the sales development between the first half of 2021 and 2022 is undoubtedly impressive. Within a year, sales have increased by well over 70%.

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