Playtech Raises 2026 EBITDA Forecast Above €300 Million After Strong Americas Trading

Playtech expects adjusted EBITDA to exceed €300 million in 2026 after strong trading in the Americas, the company said in a trading update covering July 1 to October 31, 2026. The revised guidance sits above analyst expectations of €279 million and follows prior upgrades in July and September.

Revised forecast and recent performance

The latest upgrade takes Playtech above its medium-term adjusted EBITDA target range of €250 million to €300 million. In July the company had raised 2026 earnings guidance to at least €270 million, and it reported first-half adjusted EBITDA of €162.5 million, up 77%. The new forecast is at least €21 million higher than the broker consensus of €279 million.

Primary drivers of the upgrade

Playtech attributed the stronger-than-expected trading to performance in the Americas. The US partnership with Hard Rock Digital contributed heavily to profitability and cash flow, while Mexico and Colombia benefited from increased activity following the Men’s FIFA World Cup.

"We have continued to deliver an excellent performance in 2026 to date, reflecting sustained momentum in regulated markets, notably the Americas," said Mor Weizer, CEO of Playtech. "Performance in the US, driven by our partnership with Hard Rock Digital, has remained strong, contributing significantly to profitability and cash flow, while Mexico and Colombia have benefitted from tailwinds after the Men’s FIFA World Cup."

The company also noted that its Past Motor Racing (PMR) product generated strong revenue after an extended investment and early launch alongside Hard Rock Digital.

Risks and headwinds for 2027

Playtech warned that competition, gambling taxes and regulatory changes could affect earnings in 2027. Management expects rival suppliers entering the PMR market in the US to reduce Playtech's share of customer spend next year. Political and regulatory changes in Brazil led to a market shutdown, which Playtech expects to cost three months of earnings in 2026; a prolonged shutdown could create a larger hit in 2027. Higher Remote Gaming Duty in the UK, effective since April 2026, will affect a full year of operations in 2027, and the company flagged the possibility of additional gambling tax increases across Europe.

Analysts are cautious about next year: seven analysts currently forecast adjusted EBITDA of €266 million for 2027, below the new 2026 guidance, and Playtech has not issued its own 2027 forecast.

Market reaction and stock performance

Investors initially pushed Playtech shares to 385p on the November 10 trading update, but the stock closed at 364.8p, down 1% from the previous close. Shares remain nearly 29% higher than at the end of 2025, though they are about 18% below the September high of 445p. Recent analyst ratings comprise one buy, one hold and one sell, with an average 12-month price target of 400p.

Playtech has not given a timetable for releasing a 2027 earnings outlook.