Playtech has described its opening half of the year as “resilient”, with the return of sport and the reopening of retail locations enabling the gaming giant to climb back to normalised levels of earnings last month.
Despite the pandemic severely impacting some of the group's businesses, Playtech stated that for H1 2020 it registered EBITDA of over €160m, driven by online businesses and the string performance of TradeTech, which “benefitted significantly from increased market volatility and trading volumes during much of H1.” Playtech also felt the benefit of retail locations reopening recently and the resumption of sporting events.
Mor Weizer, Playtech’s CEO, said: "Thanks to the outstanding response from our people and the early actions taken to protect the business, Playtech has demonstrated outstanding operational resilience during this challenging period.
"In addition to navigating near-term headwinds, we've continued to focus on setting up the business for success in the long-term. During the period, we've worked hard to add new brands, expand relationships with our existing customers and entered the New Jersey market with our long-standing strategic partner bet365.
“It is pleasing to see the impacted parts of the business starting to demonstrate positive momentum and I am confident the actions we have taken will help us emerge stronger and cement our market-leading position."
