Playtech Lifts 2026 EBITDA Guidance Above €300m but Warns of Tougher 2027

^{Playtech’s logo. The supplier has raised its 2026 profit outlook while flagging a tougher 2027. (Image: Playtech Greg / Wikimedia Commons)}

Playtech now expects adjusted EBITDA of more than €300 million for the year to 31 December 2026, ahead of analyst forecasts, after trading from 1 July to 31 October came in above expectations. The London-listed supplier said the Americas drove the outperformance, and warned that 2027 will bring more pressure.

The trading update was released through the London Stock Exchange on 10 November. Before it, seven analysts with current estimates expected 2026 adjusted EBITDA of between €271 million and €285 million, with a mean of €279 million.

What Drove the Upgrade

Playtech said its US performance, driven by its partnership with Hard Rock Digital, remained strong and contributed significantly to profitability and cash flow. The company said it benefited materially from being first to market with its PMR product, which it describes as based on Past Motor Racing results, in both the first and second halves.

Latin America helped too. Chief executive Mor Weizer said Mexico and Colombia benefited from tailwinds after the men’s FIFA World Cup. He said the company has continued to deliver an excellent performance in 2026 to date, reflecting sustained momentum in regulated markets, notably the Americas.

Three Headwinds for 2027

Playtech said the arrival of other third-party PMR suppliers is under way and is now expected to have a more material impact on its wallet share into 2027. Weizer pointed to growing competition from those suppliers in the US.

Brazil is the second factor. Playtech expects to absorb the three-month impact on adjusted EBITDA in 2026, but said the hit will be more significant in 2027 if the existing market shutdown is not lifted. The fight over the ban is now with Congress and the courts, with a Supreme Court justice having suspended all court cases challenging the betting ban after Lula’s re-election sent the fight to Congress and the Supreme Court.

The third is tax. Playtech said it continues to absorb the full impact of the increased Remote Gaming Duty in the UK, which took effect in April 2026, and a full year of that impact will come through in 2027. Higher taxation in other European markets will add to it.

The Analyst View

Playtech said current analyst consensus for 2027 adjusted EBITDA is €266 million across the same seven analysts. That is below the new 2026 guidance floor, and it was published in the company’s own announcement, so the market already expects a step back next year.

Weizer said the company remains confident in the underlying strength of the business and sees significant opportunities as it expands in regulated and regulating markets. He said Playtech is working towards the top end of its medium-term targets.

Playtech is a business-to-business supplier of platform, content and services to online betting and gaming operators, and says it operates in more than 50 regulated and regulating jurisdictions. It has also been in the news over its dispute with a rival supplier, with Playtech saying an unsealed report corroborated findings against Evolution.