LONDON, July 9, 2026, 18:07 (BST)
Playtech PLC LON:PTEC surprised the market on Thursday, telling investors it expects adjusted EBITDA for 2026 to hit at least €270 million. That’s €51 million higher than analysts expected before the update. The forecast, for earnings before interest, tax, depreciation and amortisation and some adjustments, follows a strong first half from the Americas and Hard Rock Digital.
The main point now is how Playtech beat. The company says a solid first half should offset an expected slowdown in the second half. That includes a drop but steadier revenue from Hard Rock Digital and the hit from higher UK Remote Gaming Duty, which started in April.
Playtech finished the London session up 45.20p, or 14.12%, according to Hargreaves Lansdown. The market closed with sell quotes at 368.60p and buy quotes at 370.80p. Reuters had reported earlier that the shares were up nearly 19% at 375.60p at 0750 GMT, but the rally cooled off later.
With the new update and Playtech’s H1 2025 adjusted EBITDA now at €91.6 million, the reset looks steep:
| Profit marker | Figure | Investor read-through |
|---|---|---|
| H1 2026 adjusted EBITDA | More than €155 mln | That’s at least 57% of the new 2026 floor |
| H1 2025 adjusted EBITDA | €91.6 mln | H1 2026 would be up at least 69% |
| 2026 adjusted EBITDA guidance | At least €270 mln | €51 mln above earlier consensus |
| Prior analyst range | €205 mln-€225 mln | The new floor clears the old range |
| H2 needed to hit floor | Less than €115 mln | Guidance assumes a softer second half |
The key point is in that last line. Playtech doesn’t have to match its first-half run-rate to hit the target. Investors get a higher earnings base, even as management keeps telling them not to read too much into May and June.
There’s going to be tougher scrutiny on the quality of that EBITDA. Playtech said the figure folds in HAPPYBET’s operating loss, income from associates like its 30.8% stake in Caliente Interactive, and dividends from equity holdings, mainly Hard Rock Digital. Those items can help cash flow, but they’re not the same as plain old royalty revenue.
Shares in Entain PLC (LON:ENT) rose 1.73%, while Evoke PLC (LON:EVOK) slipped 0.42%. Evolution AB (STO:EVO), the casino supplier out of Stockholm, gained 2.59%. The moves didn’t suggest a sector-wide betting stock rally, according to Google Finance.
| Company | Ticker | July 9 move | What it says |
|---|---|---|---|
| Playtech PLC | LON:PTEC | +14.12% at close, Hargreaves Lansdown | Reset outlook |
| Entain PLC | LON:ENT | +1.73% | Sector traded better, no big jump |
| Evoke PLC | LON:EVOK | -0.42% | Gambling risk over UK is still unclear |
| Evolution AB | STO:EVO | +2.59% | Other suppliers didn’t keep up with Playtech |
Chief Executive Mor Weizer called U.S. results “exceptionally strong,” crediting Hard Rock Digital, and said recent investment was now speeding up profit and cash flow. Playtech’s full interim report is set for Sept. 10, when Weizer and CFO Chris McGinnis will present. TradingView
Peel Hunt’s Ivor Jones and Douglas Jack are still at Buy on Playtech, with a 690p target, per NEXT.io—a level more than twice Monday’s close. Their 2026 EBITDA is in line with Playtech’s €270 million guidance, but they’re sticking with €238 million for 2027. The analysts said they want “greater clarity to emerge” before lifting numbers further. Next
The same facts that helped the stock now carry risks. Hard Rock Digital is now one of Playtech’s biggest clients, but Playtech says its revenue from Hard Rock should come in lower and steadier for the second half and through 2027. The company also says Brazil may not add to growth until 2027, and the full hit from the UK tax is already in the cost base for the second half. If PMR demand slows faster than management thinks, or if Brazil is delayed, there’s less room for the stock to post another beat.
