Playtech Raises 2026 Adjusted EBITDA Forecast, Warns of Pressure in 2027

Playtech raised its 2026 adjusted EBITDA forecast to above 300 million euros on 10 November. Strong performance in the Americas was the key driver of the increase. The company said competition and regulatory costs would put more pressure on earnings in 2027.

According to the update, seven analysts who follow the company, covering the period from 1 July to 31 October, expect adjusted EBITDA of 266 million euros for 2027. The company had earlier guided to more than 270 million euros, and this guidance was maintained in its half-year results. Before the announcement, analysts' expectations for 2026 stood at 279 million euros. That estimate was in a range of 271 to 285 million euros.

Playtech's Past Motor Racing (PMR) products are based on historical motor sport results and are offered in Florida on Hard Rock Digital's Hard Rock Bet platform. Because Playtech entered the market first, it earned significant income from this relationship in the first half. PMR revenue remained strong in the second half as well. The company said it expects other PMR suppliers to come on board, which should have a bigger effect on Hard Rock's share of PMR spending in 2027. B2B revenue from the US and Canada reached 56.9 million euros in the first half, compared with 21.8 million euros in the first half of 2025.

CEO Mor Weizer said Mexico and Colombia benefited from positive effects after the World Cup. Caliente Interactive is Playtech's main partner in Mexico, while Wplay is growing in Colombia. Playtech holds a 30.8% stake in Caliente. It earned 30.1 million euros in associate income from this business in the first half.

Playtech expects the closure of the Brazilian market to offset its impact on adjusted EBITDA for the first quarter of 2026. It said the impact would be more pronounced in 2027 if the closure is not lifted. On 25 September, President Lula da Silva signed a temporary measure banning fixed-odds sports betting and online casino games. According to the Finance Ministry's timetable, betting sites and apps were due to become inaccessible on 6 October. Other lottery games such as Loto are excluded from the ban.

In the United Kingdom, the Remote Gaming Duty rate on gaming providers' profits, calculated as bets minus payouts, rose from 21% to 40% on 1 April 2026. 2027 will be the first full calendar year in which the new rate applies. B2B revenue in the UK was 59.0 million euros in the first half, compared with 64.2 million euros in the first half of last year. The decline was driven by the tax impact and a client's decision to take self-service betting terminals in-house.