Playtech has issued positive results for the six months ending June 30, 2016, together with a trading update for the period to August 24, 2016.
Total revenues are up 18 per cent compared to H1 of 2015. Adjusted EBITDA is up 27 per cent on a reported basis and 40 per cent at constant currency. Adjusted net profit and Adjusted earnings per share are up 54 per cent and 40 per cent respectively.
The company experienced success through acquisitions throughout the period, including the €24m acquisition of Quickspin in May and the €138m acquisition of 90 per cent of BGT in July.
Playtech’s gaming division also performed strongly, with an 18 per cent growth. Revenues from mobile were at 29 per cent in H1 of 2016, compared to 20 per cent in H1 2015, with 54 per cent of UK revenues from mobile.
The company’s financials division revenue was €31.3m in H1 2016, with adjusted EBITDA of €5.9m.
Alan Jackson, chairman of Playtech, said: "We have locked-in future growth with important new licensees signed and significant contracts renewed. Seven of our top 10 licensees are now on contracts which have at least three years remaining and our pipeline of new licensees and structured agreements remains strong.
“First half results from our financials division reflect the full impact of the transitioning of the business and improvements made due to regulatory changes with markets now having the right platform for sustainable growth.
"We have continued to execute on our M and A strategy with the acquisitions of BGT and Quickspin announced so far in 2016. We are pleased to announce the adoption of a progressive dividend policy, reflecting our confidence in the group's anticipated growth and cash generation. We are also pleased to announce the return of €150m to shareholders through a special dividend with no impact on our M and A capabilities, enabled by our high cash balances and strong cash generation, while maintaining an efficient and flexible balance sheet.
"Given this progress, we remain confident of strong growth in 2016 and beyond."
