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Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.
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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.
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CFDs and FX are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.
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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Playtech (LON: PTEC), the London-listed gambling software supplier, warned that profit growth will slow in the second half, even as it reported record first-half earnings driven by explosive growth in the United States.
Shares in Playtech traded at 401.8p on Thursday morning, up 1.2% from Wednesday’s close of 397.2p, having opened higher and risen as high as 409.6p before caution over the outlook capped gains, with the stock falling back as low as 382p. It remains well below its 52-week high of 436.6p, having climbed from a low of 210p in October last year.
PTEC.LSE
According to Playtech’s results statement, as reported by Sharecast, adjusted underlying earnings rose 77% year-on-year to €162.5m in the first half, while revenues grew 10% to €425.1m. The adjusted EBITDA margin, a measure of operating profitability before interest, tax and one-off items, expanded to 30% from 19% a year earlier.
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That jump was powered by US and Canada revenue growth of more than 160%, alongside one-off investment income from Playtech’s stakes in Mexican gaming investee Caliente Interactive and US online gaming joint venture Hard Rock Digital.
Management cautioned that those same drivers will fade in the second half. Hard Rock Digital revenues are expected to normalise, Brazil investment spend will continue, and UK remote gaming duty, a tax on online gambling revenue, will weigh on results for a full half rather than part of one. UK B2B revenue, from software sold to other betting operators, already fell 8% in the first half.
Playtech generated €101m of free cash flow in the period and ended it with €39.2m of net cash after completing a €25m share buyback. The company reaffirmed full-year guidance of more than €270m in adjusted EBITDA, within its medium-term target range of €250m to €300m, giving markets a benchmark against which to judge how much of the flagged slowdown is already priced in.
The AskTraders Analyst Team features experts in technical and fundamental analysis, as well as traders specializing in stocks, forex, and cryptocurrency.
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