Playtech, the online gambling platform and content supplier, said on November 10, 2026 that it now expects Adjusted EBITDA of over €300 million for 2026, after trading from July 1 to October 31 ran ahead of expectations. The figure is above the range of analyst estimates Playtech cited and above the top of Playtech’s own medium-term target range, though the company warned that 2027 will bring new pressures.
In its first-half results in September, Playtech had said it was on track for more than €270 million, so the trading update raises the floor of its outlook by €30 million. The seven analysts it counted had expected between €271 million and €285 million, with a mean of €279 million. The update gives no revenue figures for the period.
- 2026 outlook
- €300M+
- Adjusted EBITDA
- Analyst mean
- €279M
- before the update
- H1 2026
- €162.5M
- up 77%
- 2027 consensus
- €266M
- same analysts
The US and Hard Rock Digital
Playtech said its US business, driven by its partnership with Hard Rock Digital, remained strong and contributed significantly to profit and cash flow. It was first to market with Games powered by Past Motor Racing (PMR), a sports-betting product the Seminole Tribe offers in Florida through Hard Rock Bet, and PMR revenues kept performing strongly in the second half. Playtech also owns an equity stake in Hard Rock Digital, valued at €246.7 million on June 30, 2026.
We have continued to deliver an excellent performance in 2026 to date, reflecting sustained momentum in regulated markets, notably the Americas.
Mor Weizer, CEO, Playtech
Beyond Florida, Playtech supplies online casino games in six regulated US states after launching in Connecticut, and added launches with Fanatics, FanDuel in West Virginia and bet365 in Michigan in the first half. In Latin America, Mexico and Colombia benefited from tailwinds after the Men’s FIFA World Cup. Playtech holds 30.8% of Caliente Interactive in Mexico.
Where the Growth Came From
In the first half of 2026, business-to-business (B2B) revenue from the US and Canada rose 161% to €56.9 million, while UK revenue fell 8%, which Playtech attributed to customer changes and the higher remote gaming duty.
| B2B revenue | H1 2026 | H1 2025 | Change |
|---|---|---|---|
| US and Canada | €56.9M | €21.8M | +161% |
| Latin America | €99.9M | €87.7M | +14% |
| Europe excl. UK | €104.5M | €102.0M | +2% |
| UK | €59.0M | €64.2M | −8% |
| Rest of the world | €8.1M | €6.6M | +23% |
| Unregulated markets | €66.4M | €65.3M | +2% |
| Total B2B | €394.8M | €347.6M | +14% |
Brazil and UK Duty
Playtech expects to absorb a three-month impact on 2026 Adjusted EBITDA from recent political and regulatory developments in Brazil, with a more significant impact in 2027 if the market shutdown is not lifted. Brazil issued a provisional measure on September 25, 2026 that provisionally banned sports betting and iGaming, according to Flutter, which closed its Brazil operations the next day. Licensed operators had to stop operating from October 6, 2026, according to Bragg Gaming.
In the UK, Remote Gaming Duty rose from 21% to 40% from April 1, 2026. Playtech said it continues to absorb the full impact, and that 2027 will bring the first full year of it, alongside higher taxes in other European markets.
What Playtech Expects for 2027
The same analysts’ consensus for 2027 Adjusted EBITDA is €266 million, at least €34 million below the new 2026 outlook. Chief Executive Mor Weizer named three reasons. “Looking to 2027, we expect performance to reflect growing competition from third-party PMR suppliers in the US, political and regulatory developments in Brazil and the first full-year impact of increased Remote Gaming Duty in the UK,” he said.
Playtech said competition from other PMR suppliers is expected to have a more material impact on its wallet share into 2027, but that it remains confident in the business and will work toward the top end of its medium-term targets.
