Playtech Raises 2026 Earnings Guide Above EUR 300M as Americas Drive Growth

Playtech lifted its full-year adjusted EBITDA outlook after trading ahead of expectations for the four months to October 31. The Americas did most of the heavy lifting, which matters because the company’s current momentum is being built in regulated markets that can turn a lot less comfortable very quickly.

1. Playtech now expects 2026 adjusted EBITDA to exceed EUR 300 million ($334 million), ahead of current analyst consensus. The upgrade follows a strong first half, when revenue reached EUR 425.1 million ($473.3 million), up 10% year over year, while adjusted EBITDA rose 77% to EUR 162.5 million ($180.9 million). The adjusted EBITDA margin came in at 30%.
2. CEO Mor Weizer said Playtech has maintained strong momentum in regulated markets, with the Americas contributing significantly to profitability and cash flow. The US was especially important through Playtech’s partnership with Hard Rock Digital, where the two companies were first to market with a product based on Past Motor Racing (PMR) results.
3. That PMR arrangement helped Playtech establish its position in the first half of 2026, and product revenues stayed strong in the second half. The catch is that Playtech expects the gap to narrow as other third-party PMR suppliers enter the market and take a larger share of customer spending in 2027.
4. Playtech also benefited from favorable conditions in Mexico and South America, including the World Cup, but Brazil is now the bigger question mark. Recent political and regulatory developments led the country to shut down its regulated gambling market, which has affected Playtech’s investments there. If Brazil does not reopen in the coming months, Playtech says that could materially affect its 2027 plans.
5. The company had previously treated Brazil as a strategic growth market and opened a live casino studio in São Paulo. After the first-half update, Weizer said he wanted to expand Playtech’s presence in Brazil by early 2027, but those plans are now less certain given the current regulatory situation. Playtech also flagged higher taxes in Europe, including the UK’s higher Remote Gaming Duty, as another pressure point.

In other words: Playtech is finishing 2026 with a stronger earnings run-rate, but the business is leaning hard on markets where regulation, tax, and competition can change the math fast. For PSPs and acquiring teams, that is the real read-through: volume can look good until local policy decides otherwise.