The current FY25 financials from Playtech Group have actually revealed that the business is behind B2B income at a time when it is moving away from B2C operations.

In 2015 trading saw EUR688.3 m generated in B2B revenue, down 9% from the EUR754.3 m in 2024. Adjusted EBITDA went down by 36% to EUR141.4 m when pitted against FY24's comparatives of EUR222m, whilst post-tax earnings stood at EUR44.2 m - a 28% year-on-year drop from.

The main motorist for the influence on performance was the re-adjusted Caliente Interactive arrangement at the end of 2024, which saw Playtech stop receiving additional B2B service charge in H1 2025, and rather start getting payment dividends as a 30.8% equity stake holder from H2 onwards.

Strategic local top priorities

Against the B2B earnings results, income from B2C operations was available in at EUR78.5 m (FY24: EUR97.8 m), driven by the EUR2.3 bn sale of Italian gaming giant Snaitech to Flutter Entertainment, and an additional B2C unwind in Germany with the sale of domestic brand name HAPPYBET.

However, a huge favorable for Playtech in FY25 was its North American progress. Revenue across the US and Canada grew by a big 71% year-on-year on a constant currency basis, from EUR29.8 m to EUR48m.

Business said efficiency was driven by strong activity from consumers such as DraftKings, FanDuel, Acid Rock Digital and Delaware North.

Live Casino has protruded as a considerable driver for Playtech's US operations, the business validated, with the variety of Live tables run by the firm almost doubling YoY throughout its studios in New Jersey, Michigan and .

Over to Latin America, the area was touted as a "core tactical top priority" by company management, regardless of domestic earnings visiting 27% to EUR162m as a direct result of the modified Caliente contract and the VAT introduction in Colombia.

Regardless, Brazil ending up being managed at the start of in 2015 has assisted balance out a more substantial effect, with Latin America income actually up 8% YoY with Caliente out of the equation.

Colombia also stays a practical medium-term opportunity thanks to the local partnership Playtech has with Wplay, and the capacity for the federal government to backtrack the 19% VAT on online betting deposits to a 16% tax of a player's GGR.

Revenue from B2B operations in Europe grew 4% YoY to EUR207.4 m, despite taxation headwinds. Poland, Spain, Greece, and France were highlighted as top-performing markets for Playtech throughout 2025.

UK earnings, which is computed individually from Europe, was down 6% YoY, however keeps a key top priority value for the Isle of Man-based business.

The public Playtech Evolution AB conflict ...

The company also supplied an upgrade on its continuous case with Evolution AB, mentioning: "Evolution has actually not requested approval of the New Jersey Court to include any group entity to the proceedings and no claim has been served on Playtech plc or any of its subsidiaries."

In October 2025, Stockholm-listed Evolution released a statement saying that Playtech worked with Black Cube, an Israeli personal intelligence company which expenses itself as specialising 'in high stake conflicts'. Playtech subsequently acknowledged that it had actually commissioned a private examination into its rival and stated that it 'waited its decision' to do so.

Evolution explained the move as a 'negative campaign', saying that the investigation, which declares to have exposed proof of the company operating unlawfully in jurisdictions including China, Iran and Sudan in between 2021-2023, was intended to harm its track record and might trigger 'multi-billion-dollar' damage.

Playtech, however, reacted by stating: "Evolution continues to seek to avoid genuine analysis instead of address longstanding concerns about its conduct, including its choice to provide operators in unlawful markets and to support unlicensed operators in regulated markets."

... which has contributed to a share cost drop

The dispute did not sit well with the market, however, as Playtech shares dipped from 349.5 p to 237.5 p in the very first 5 hours of trading on the day of the announcement.

Its share cost has actually been on a typically downward trajectory over the last 12 months in basic, stopping by over 50% during that duration. The anomaly has been a favorable trend since the turn of the year.