Playtech is one of the biggest casino software providers serving British operators, yet it now earns most of its growth outside the UK. These Playtech results combine the 2025 annual report and the half-year figures to 30 June 2026 to show how the sale of Snaitech, the Caliente deal and the higher UK Remote Gaming Duty have reshaped the business. All figures are in euros, as Playtech reports them.
Playtech results at a glance
2025 was a year of shrinking. B2B revenue fell 9% to €688.3m from €754.3m, and group Adjusted EBITDA from continuing operations fell to €197.0m from €217.5m. Playtech blamed mainly the revised Caliente agreement, which removed a services fee.
The first half of 2026 reversed that. Revenue rose 10% to €425.1m from €387.0m and Adjusted EBITDA jumped 77% to €162.5m, against €91.6m in H1 2025. Playtech says it is on track for full-year 2026 Adjusted EBITDA of more than €270m.
| Measure | Earlier period | Latest period |
|---|---|---|
| B2B revenue, full year | €754.3m (2024) | €688.3m (2025) |
| Adjusted EBITDA, full year | €217.5m (2024) | €197.0m (2025) |
| Group revenue, first half | €387.0m (H1 2025) | €425.1m (H1 2026) |
| Adjusted EBITDA, first half | €91.6m (H1 2025) | €162.5m (H1 2026) |
How Playtech compares with the operators it supplies is covered in our guide to the biggest gambling companies UK.
The Snaitech sale to Flutter
The biggest event of 2025 was the sale of Snaitech, Playtech’s Italian betting and gaming business. The sale to Flutter Entertainment completed on 30 April 2025 for an enterprise value of €2.3bn in cash, producing net cash proceeds of €2.0bn.
Playtech then paid a special dividend of €1.8bn to shareholders. It had bought Snaitech for €846m, and its annual report says the deal delivered more than three times the original investment once cash generation is included.
Key point: Without Snaitech, Playtech is now almost entirely a business-to-business supplier. Snaitech results are shown as discontinued operations, so they are excluded from the continuing figures above.
Playtech B2B revenue by region
Playtech B2B revenue is split by region, which shows where growth now comes from. In H1 2026 the US and Canada more than doubled, up 161% to €56.9m, while the UK fell 8%.
| Region | 2025 (€m) | H1 2025 (€m) | H1 2026 (€m) |
|---|---|---|---|
| US and Canada | 48.0 | 21.8 | 56.9 |
| Latin America | 161.9 | 87.7 | 99.9 |
| Europe excluding UK | 207.4 | 102.0 | 104.5 |
| UK | 128.3 | 64.2 | 59.0 |
| Unregulated markets | 128.9 | 65.3 | 66.4 |
| Total B2B | 688.3 | 347.6 | 394.8 |
Regulated markets made up 83% of B2B revenue in H1 2026, against 81% a year earlier. The UK share of B2B revenue fell to 14.9% in H1 2026, from 18.6% across 2025 (our calculations). For the size of the British market these suppliers sell into, see our UK gambling industry statistics.
The UK and the 40% duty
UK B2B revenue fell 6% in 2025 to €128.3m, and another 8% in H1 2026 to €59.0m, or 5% in constant currency. Playtech names two causes: Remote Gaming Duty rising from 21% to 40% in April 2026, and customer changes, including one operator taking its self-service betting terminals in-house.
The annual report also lists the statutory levy and online slot stake limits introduced in 2025, plus a new 25% General Betting Duty on remote sports betting from April 2027. Quarter-by-quarter UK market data are in our UK gambling quarterly statistics review.
The statutory levy is separate from the much older horserace betting levy, which applies to bookmakers taking bets on British racing.
Looking ahead, the next Playtech results may show the full effect: the company expects H2 2026 Adjusted EBITDA to be lower than H1, partly because the second half will carry a full six months of the higher UK duty.
Playtech Caliente and the Americas
The revised agreement with Caliente Interactive, the Mexican operator behind Caliplay, completed on 31 March 2025. Playtech swapped a B2B services fee, worth €10.0m in Q1 2025, for a 30.8% equity stake.
The stake pays off in dividends. Caliente distributed €45.7m relating to the nine months of 2025 under the new deal, of which €33.0m was received during the year. In H1 2026 Playtech received net Caliente dividends of €35.8m, and adjusted investment income rose to €34.2m from €19.8m.
Latin American B2B revenue grew 14% to €99.9m in H1 2026. In the US, the Hard Rock Digital stake was valued at €246.7m at 30 June 2026, more than three times the original investment of about €80m in 2023.
Europe, Live casino and Age of the Gods
Europe outside the UK is steadier. B2B revenue there grew 4% to €207.4m in 2025 and 2% to €104.5m in H1 2026, with Poland and Spain named as strong markets. These are licensed customers, not the European online casinos that operate without local approval.
Live casino is a growing share of the business. Live revenue rose 8% in H1 2026 and Playtech runs about 480 Live tables globally. Its annual report claims more than 70% market share for its Live offering in Spain.
Slots are the other half of the content business. Age of the Gods is one of Playtech’s best-known slot series, and in 2025 its Ash Studio launched a new title, “Age of the Gods: Gold Trio”. Playtech says its strategy is to focus on regulated markets, and nothing in these results measures play on offshore casinos.
Sun Bingo, HAPPYBET and unregulated revenue
Playtech’s own consumer arm is shrinking. B2C revenue fell 20% to €78.5m in 2025 and 22% to €32.0m in H1 2026. Sun Bingo and other B2C revenue fell 5% to €31.7m, and Playtech says the duty rise caused a material deterioration in Sun Bingo’s long-term profitability outlook.
HAPPYBET, the German betting business being wound down, saw revenue fall 35% to €12.2m in 2025 and to €0.3m in H1 2026, from €7.8m.
Revenue from unregulated markets was €128.9m in 2025, down 17%, and €66.4m in H1 2026. Playtech does not name those markets. Its accounts do not cover crypto casinos that run their own software.
The results also give no player-level UK data. For that, the Gambling Commission’s statistics are the better source, and they exclude non-UK casino sites entirely.
FAQ: Playtech in 2026
Quick answers from Playtech’s own reports.
Who bought Snaitech?
Flutter Entertainment, for an enterprise value of €2.3bn. The sale completed on 30 April 2025.
How much did Playtech make in H1 2026?
Revenue of €425.1m and Adjusted EBITDA of €162.5m in the six months to 30 June 2026.
How did the UK duty rise affect Playtech?
UK B2B revenue fell 8% to €59.0m in H1 2026, which Playtech partly blames on Remote Gaming Duty rising to 40%.
Does Playtech own Caliente?
It holds a 30.8% stake in Caliente Interactive, the holding company of Caliplay, since 31 March 2025.
All figures come from Playtech plc’s own reports and are in euros; we have not converted them to sterling. Adjusted EBITDA is a company measure, not a statutory one. Continuing operations exclude Snaitech. UK shares of revenue are our calculations.
- Playtech plc, Annual Report and Financial Statements 2025 (PDF).
- Playtech plc, Results for the six months ended 30 June 2026 (PDF).
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