Playtech (LON: PTEC) released a trading update on Thursday, revealing its expectations to end the financial year 2022 with at least €400 million in adjusted EBITDA. The expected figure is 26 percent higher than the previous year.

Playtech’s Solid EBITDA Expectations

The company highlighted that the upward dragging of its performance in the year was due to the performance of both B2B and Snaitech businesses.

The London-listed company closed the first half of 2022 with a revenue of €792.3 million that jumped 73 percent year-over-year. In addition, its EBITDA for the period leapt 64 percent to €203.8 million, with extensive growth in American and European regions. It shows the company expects to close the second half of the year with its EBITDA reaching similar amounts.

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Playtech Simplifying Its Businesses

Playtech is a well-known provider of online gambling technology. Last year, it offloaded its financial division Finalto by selling it to Hong Kong-based Gopher Investments in a $250 million cash deal. Playtech called the latest sale “a significant step” in its strategic objective to simplify the group.

“The sale of Finalto was completed in July 2022, representing a significant step in our stated strategy to simplify the Group and focus our efforts on the high-growth B2B and B2C gambling markets,” Playtech’s CEO, Mor Weizer, said. “We remain well placed to capitalize on the exciting market opportunities ahead, driving sustainable growth for the benefit of all our stakeholders.”

Meanwhile, Playtech entered into an amended €277 million revolving credit facility until October 2025, with an additional one-year extension option. It came as the company reviewed options to refinance its €530 million senior secured notes and revolving credit facility.

Playtech was mulling around the sale of the company, but those measures failed. First, the Playtech shareholders rejected a £2.7 billion takeover bid of Aristocrat Leisure, and then TTB Partners withdrew its interest in the company, citing market conditions.