Update on Caliente and Notice of Interim ResultsSource: RNS
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FOR IMMEDIATE RELEASE
29 July 2022
("Playtech" or "the Company")
Update on Caliente and Notice of Interim Results
Playtech continues to actively explore options to maximise shareholder value across both its B2B and B2C businesses.
As previously announced, under one of these initiatives, Playtech has been exploring a possible transaction regarding an agreement with Caliente which would allow Caliplay to penetrate the US market with Caliplay being acquired by a US listed special purpose acquisition company ("SPAC"). Capital market conditions have deteriorated significantly since the transaction was initially contemplated and, accordingly, this transaction is no longer being pursued in the same manner. However, the Company continues to explore alternative opportunities with Caliplay management to build a standalone US gaming business under the Caliente brand focused on the Hispanic community in the US. Both parties also continue to have discussions with the SPAC and its associates regarding this alternative opportunity. Discussions are at an early stage and further updates will be made if appropriate.
As announced in our statement on 14 July 2022, the Company is trading ahead of expectations. In particular, the Company has seen B2B performance driven by very strong momentum from the Americas including Caliente and other structured agreements, in addition to a strong performance across the wider B2B operations. Snaitech has seen excellent results driven by its online business, retail recovery and favourable sports results. This momentum across the business gives the Board great confidence in the Company's prospects for FY 2022 and beyond, as well as the Company's ability to deliver material value to its shareholders.
Playtech looks forward to presenting its first half results on 22 September 2022, which will be followed by an investor event focused on Snaitech. An investor event focused on Playtech's B2B business is expected to follow later this year.
The person responsible for making this announcement is Chris McGinnis, Director of Investor Relations & Strategic Analysis.
Chris McGinnis, Director of Investor Relations & Strategic Analysis
+44 (0)16 2464 5954
Headland (PR Adviser to Playtech)
+44 (0)20 3805 4822
Founded in 1999 and premium listed on the Main Market of the London Stock Exchange, Playtech is a technology leader in the gambling and financial trading industries with over 6,600 employees across 26 countries.
Playtech is the gambling industry's leading technology company delivering business intelligence driven gambling software, services, content and platform technology across the industry's most popular product verticals, including, casino, live casino, sports betting, virtual sports, bingo and poker. It is the pioneer of omni-channel gambling technology through its integrated platform technology, Playtech ONE. Playtech ONE delivers data driven marketing expertise, single wallet functionality, CRM and responsible gambling solutions across one single platform across product verticals and across retail and online.
Playtech partners with and invests in the leading brands in regulated and newly regulated markets to deliver its data driven gambling technology across the retail and online value chain. Playtech provides its technology on a B2B basis to the industry's leading retail and online operators, land-based casino groups and government sponsored entities such as lotteries. Playtech directly owns and operates Snai, the leading sports betting and gaming brand across online and retail in Italy.
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