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(Sharecast News) - Playtech said on Friday that it now expects to report adjusted EBITDA of at least 90mi for the first half of 2025, after stronger-than-expected trading in its B2B segment and a boost from associate income, particularly from its Mexican joint venture Caliente Interactive.
In a trading update ahead of its interim results in September, the FTSE 250 gambling technology group said Caliente had delivered a better-than-expected performance during the second quarter, benefitting from favourable sporting results.
The business also declared and paid its first dividend under a revised strategic agreement.
It added that it continued to see strong momentum across its B2B division, underpinning its confidence in a strategy focused on becoming a predominantly pure-play B2B business.
"Given the exciting growth opportunities ahead, the board remains very confident in Playtech's ability to execute on its strategy," the company said.
Playtech reiterated plans to step up investment in the US and Brazil in the second half, but said it remained cautious on regulatory headwinds in Brazil and Colombia, which were previously highlighted in its May update.
The group said it would publish its half-year results on 11 September.
At 0906 BST, shares in Playtech were up 0.63% at 400.5p.
Reporting by Josh White for Sharecast.com.
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