Playtech boosts earnings forecast, commits to major shareholder returns following Snaitech sale

Playtech, the gambling software firm, has upgraded its guidance due to growth in its business-to-business (B2B) arm and announced it will deliver €1.7bn (£1.42bn) to shareholders via the sale of Snaitech, as reported by City AM.

The company reported an 11 per cent increase in adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) for the six months ending 30 June, reaching €243m (£202m). This was driven by a "strong performance across the B2B business", according to Playtech.

The firm also stated that it is on track to deliver full-year adjusted EBITDA slightly above expectations.

Revenue saw a five per cent increase, rising from €859.6m to €906.8m, while post-tax profit rose 23 per cent to €105.4m.

Diluted earnings per share increased by 22 per cent, reaching 33.6 cents from 17.5 cents.

Mor Weizer, CEO