Playtech Reports 573% EBITDA Increase Driven by Hard Rock Digital

Playtech reported a 573% year-on-year increase in announced EBITDA to €86.8 million in the first half of 2026, significantly surpassing analysts' forecasts. The company's adjusted EBITDA reached €162.5 million, a 77% advance from €91.6 million recorded in the same period in 2025. Company executives attribute this leap to the "excellent strategic progress in America," where the main markets grew above expectations.

Financial Results: Profit, Revenue, and Business Segments

The London-listed group achieved total revenues of €425.1 million, representing a 10% year-on-year increase. The most significant turnaround is the shift from an after-tax loss of €78.1 million in the first half of 2025 to a profit of €98.1 million in 2026. B2B revenues increased by 14%, reaching €394.8 million, with an underlying EBITDA for this segment skyrocketing to €128.1 million (+75%).

Playtech's B2C revenue suffered a 22% decline, falling to €32 million, attributed in part to the discontinuation of the HAPPYBET brand in Germany and a decreased strategic focus in this vertical. According to Playtech's management, the B2C arm represents a "lower strategic priority area."

Key Boost from Hard Rock Digital in the United States and Canada

The North American surge was crucial: Playtech's revenues from the United States and Canada rose by 161%. The company cites the integration of Past Motor Racing (PMR) games with Hard Rock Bet in Florida as a key factor. These titles, with a similar mechanic to slot machines, have provided the exclusive online betting operator in Florida — Hard Rock Bet — with a differentiated offering in the market.

Playtech acquired a single-digit minority stake in Hard Rock Digital (HRD) for $85 million in March 2023. According to the company, its investment is now valued at €246.7 million, equivalent to $281.5 million. Calculating a 2% stake suggests an enterprise value for HRD close to $14 billion.

The company clarifies that it expects the spectacular growth of this segment to “normalize to a more sustainable level in the second half of the year.”

Latin America: Sustained Growth in Mexico and Colombia

In Latin America, revenues increased by 29%. Mexico and Colombia stand out as the highest-growing markets, driven by Playtech's stakes in Caliente Interactive (Mexico) and Wplay (Colombia).

Challenges in the UK and in the Retail Vertical

The B2B segment in the UK reported an 8% decline, totaling €59 million. Playtech's management points to “changes with certain clients and the increase in the remote gambling tax.” Since April 1, this tax has doubled from 21% to 40%. Among the changes in clients is the internalization of self-service betting terminals by retail operators.

The consumer business, with Sun Bingo and other smaller brands, also declined due to the tax increase and a drop in active players. Executives recognize a “material deterioration of long-term profitability” for Sun Bingo following the tax hike. Playtech sold Snaitech to Flutter in 2025 for over €2 billion.

Legal and Market Contexts for Playtech in 2026

Simultaneously, Playtech maintains an open litigation with Evolution in New Jersey related to live casino technology. This week, a report commissioned by Evolution to Spectrum was made public in court, whose conclusions — according to Playtech — support fundamental aspects of the investigation into Evolution led by the Israeli firm Black Cube.

"Playtech has delivered a first half far above our expectations, demonstrating the strength of our technology, the quality of our partnerships, and the disciplined execution of strategy," stated Mor Weizer, CEO of Playtech.

"We will continue focusing on expanding our presence in regulated markets, deepening relationships with clients, and strengthening our offering, with artificial intelligence as a key pillar," added Weizer.

Playtech's shares opened the day with little variation, trading at 399 pence.

Outlook: Technological Strength and Strategic Focus on Regulated Markets

Playtech's leadership emphasizes its intention to focus on regulated or regulatory-ready markets, and to invest in the development of new technologies and products. The use of artificial intelligence is among their next focal points, as well as deepening relationships with strategic operators.

The figures from the first half confirm the impact of the push for markets like the United States, Canada, Mexico, and Colombia, although executives acknowledge that North American dynamism will tend to stabilize the rest of the year following the initial surge of PMR games alongside Hard Rock Digital.