Playtech offers safer gambling portfolio to operators for free during Covid-19
London-listed supplier says raising safer gambling standards is “more important than ever” as TradeTech segment boosts Q1 EBITDA figures
Playtech has made its portfolio of safer gambling and analytics tools including BetBuddy available to all gambling operators for free during the Covid-19 pandemic.
Updating investors in a May trading update, the London-listed supplier said the industry needs to provide an increased level of player engagement “to support and protect customers who may be experiencing increased levels of risk” during lockdown.
EGR understands the combination of tools will be offered under a new Playtech Protect moniker, while the firm is already in advanced discussions with several top-tier European operators.
“At this time, actions being taken by Playtech and the wider industry to advance safer gambling and raise standards are more important than ever,” said Playtech CEO Mor Weizer.
Playtech revealed adjusted EBITDA for April 2020 came in at €23m, driven primarily by its TradeTech financial division which operates the markets.com brand.
TradeTech – which has benefitted from increased market volatility and trading volumes as a result of the coronavirus crisis – was also the key driver of overall Q1 EBITDA which reached €117m.
TradeTech generated adjusted EBITDA of more than €45m between January and April, having already exceeded Playtech’s full-year expectations for the business segment.
TradeTech has profited from the kind of Covid-19 chaos which has severely impacted the online gaming industry, as well as Playtech’s core gambling business.
Playtech CEO Mor Weizer
The supplier has taken severe mitigation measures throughout March and April to protect the business, including the suspension of shareholder distributions, salary reductions across the company, reduced working hours in certain locations and a significant reduction in marketing spend.
Playtech’s online casino, bingo and poker businesses have reported significant increases in activity as customers switch to active online verticals during lockdown, while its live casino facility in Riga has remained open throughout the pandemic, despite the Latvian government suspending gambling operations in the wake of the coronavirus outbreak.
The Riga studio was also boosted by taking traffic from Playtech’s main live facility in Manila.
Playtech’s B2B sports business is currently generating a loss of €3m adjusted EBITDA per month as retail outlets remain closed in key markets including the UK and Greece.
Weizer said: “So far this year, alongside actions taken to protect our people and our business, Playtech demonstrated remarkable operational resilience – demonstrating the strength and flexibility of our technology and our position in the industry.
“We have added new tier-one licensees, added more than 20 new brands and expanded agreements with some of our largest existing customers.
“Given this strategic progress and the actions we have taken, I am confident we will emerge stronger as the current restrictions related to Covid-19 ease,” he added.