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Playtech Publishes Trading Update for the First Four Months of 2022
Playtech plc has published a trading update for the first four months of 2022 and also provides an update on the company’s ongoing corporate activity.
Trading Update
Since FY 2021 results were announced on 24 March 2022, Playtech has continued its excellent start to the current financial year with Adjusted EBITDA (unaudited) for the first three months of more than EUR100 million. This positive Q1 run rate has continued through April.
These results are reflected across both B2B and B2C businesses, with Snaitech seeing a positive drive through online business, retail recovery and favourable sports results.
B2B results have been encouraged through strong momentum from the Americas, especially with Caliplay in Mexico, as well as through wider B2B operations such as live casino.
The live casino business has also signed several new licensees and launched a range of new games.
In North America, Playtech has obtained new customers in the US and agreed terms on several new partnerships in Canada following the opening of the Ontario market.
Despite positivities, the effects of the pandemic as well as the war in Ukraine also add to potential uncertainties.
Corporate Activity
In terms of corporate activity, there has been positive progress made with the TTB investor group with regard to a possible offer for the company. Neither terms of the agreement nor a certainty of the deal completing can yet be assured.
And despite the current market conditions, Caliplay and Playtech are continuing to explore possible opportunities that would allow Caliplay to enter the US market on an accelerated basis.
In addition, the disposal of Finalto is still on track to complete in Q2 2022 with two of the four regulatory clearances having now been received.
Annual General Meeting
Playtech will hold its 2022 Annual General Meeting on Thursday 30 June 2022.
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Quantum continues expansion streak with two director-level new hires
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One of betting and gaming’s best-known customer acquisition and comparison businesses, Quantum, has announced the next steps in its ambitious growth plan by welcoming two new director-level appointees.
Joining the business are Dimitris Papamichael as commercial director and Luke Watkin as marketing director – both in newly created roles. They come in alongside a full C-suite and a full team of new tech hires that continues a recruitment drive which began in 2023 – and reflects Quantum’s rapid and consistent growth throughout the last five years.
Papamichael will be responsible for all revenue-generating activities across the business in a pivotal leadership role. He’ll shape Quantum’s commercial strategy as the company diversifies into new verticals while maintaining its strong position in the iGaming sector. He’ll also lead an expanding team of commercial and sales managers.
Watkin will lead the development and execution of the marketing strategy across all business verticals. As marketing director, he’ll be instrumental in shaping Quantum’s marketing vision, building scalable systems, and delivering commercial impact as it expands into new markets. Watkin will build and mentor a high-performing marketing team and is also tasked with driving further recruitment.
Speaking of the appointments and new strategic direction, CMO James McCarthy said: “It’s a pleasure to welcome Dimitris and Luke to Quantum during what is undoubtedly a really fascinating time in our growth. From cementing our relationship with some of iGaming’s biggest names to helping us expand into exciting new sectors, both of our new Directors will be integral to the continued success of the business.”
Papamichael said: “I’m thrilled to be joining Quantum at such an exciting stage of its incredible growth journey. The company has already achieved so much, and there’s huge potential ahead as we expand into new markets and sectors. I can’t wait to work with the exceptionally talented team here to seize the many opportunities ahead and drive the next phase of growth.”
Watkin said: “I am delighted to join a business with such a proven track record of excellence in its core markets, as well as highly ambitious plans for strategic expansion into new markets and territories. I am looking forward to contributing towards building on the exceptional progress the team has made to date, and accelerating that growth in the years ahead.”
This people news comes hot on the heels of the company’s exciting rebrand news of last week, moving toward the “quantum” in QiH Group” as well as redefining the business’ purpose and strategic direction.
The post Quantum continues expansion streak with two director-level new hires appeared first on European Gaming Industry News.
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FLY AWAY TO FORTUNE WITH ZITRO’S “RAINBOW BIRDS”
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The post FLY AWAY TO FORTUNE WITH ZITRO’S “RAINBOW BIRDS” appeared first on European Gaming Industry News.
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PHP13 MILLION UP FOR GRABS IN PAGCOR’S LINKED BINGO EVENT
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The post PHP13 MILLION UP FOR GRABS IN PAGCOR’S LINKED BINGO EVENT appeared first on European Gaming Industry News.
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