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Playtech bigs up its excellent start to 2022 as bid talks with investor group progress

Published: 08:58 05 May 2022 BST

Playtech PLC -

Playtech PLC (LSE:PTEC) shares headed higher in early deals as the online gaming company said its “excellent start” to 2022 had continued.

Adjusted underlying earnings (EBITDA) in the first three months of the year topped €100mln and the company said the positive first-quarter run rate had continued through April.

The excellent start to the year gives the board great confidence in the prospects for the full-year but not enough to raise 2022 guidance, with the company citing an uncertain macro backdrop due to the pandemic and the war in Ukraine as reasons to be cautious.

READ: Playtech indicates born-again Gopher is considering new bid

There has been some positive progress in discussions with the TTB investor group regarding its potential offer for the company but Playtech issued the usual caveat that there can be no certainty as to whether an offer for the company will be announced.

Although capital market conditions are currently challenging, Caliplay and Playtech continue to explore a possible transaction which would allow Caliplay to enter the US market on an accelerated basis, Playtech added.

Shares in Playtech were up 5.8% at 545p in the first hour of trading.

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