Playtech (LSE:PTEC) raised its full-year adjusted EBITDA guidance to more than €300 million on Tuesday, up from its previous guidance of at least €270 million, as Americas trading continued to outperform through the third quarter.
The London-listed gambling technology group, which supplies casino, sports-betting and platform software to operators worldwide, said the upgrade covers trading from 1 July to 31 October and sits above current analyst consensus of €279 million across seven analysts.
The update extends a run of positive guidance this year: Playtech lifted its outlook in July after first-half trading came in "significantly ahead of market expectations", and reported interim adjusted EBITDA of €162.5 million in September, with margin from operations rising to 30% from 19% a year earlier.
Playtech said it had benefited from being first to market with Hard Rock Digital on a product based on Past Motor Racing results, a relationship that has become one of its largest customer partnerships and drove outsized US and Canada growth in the first half.
But the company flagged that rival providers are now entering the Past Motor Racing market, which it expects to have a "more material impact" on its wallet share into 2027.
Playtech also said it expects to absorb a three-month hit to 2026 adjusted EBITDA from recent political and regulatory developments in Brazil, warning of a more significant impact next year should the existing market shutdown not be lifted. The group is also still absorbing the full effect of the UK's increased Remote Gaming Duty, in force since April, with a complete year of that impact plus higher taxation across other European markets still to come in 2027.
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"We have continued to deliver an excellent performance in 2026 to date, reflecting sustained momentum in regulated markets, notably the Americas," said chief executive Mor Weizer, adding that Mexico and Colombia had benefited from tailwinds following the men's FIFA World Cup.
Weizer said 2027 performance would reflect growing competition from third-party Past Motor Racing suppliers in the US, the Brazil situation, and the first full-year impact of the UK duty rise, while reiterating confidence in the business reaching the top end of its medium-term targets.
Current analyst consensus for Playtech's adjusted EBITDA for the year ending 31 December 2027 stands at €266 million across the same seven analysts.