Playtech reported €112.3m (£93.4m/$123.3m) in adjusted net profit for its 2021 financial year, amid ongoing talks over a potential acquisition of the business by TTB Partners.
Playtech said this was driven almost entirely by online growth, as retail continued to feel the impact of novel coronavirus (Covid-19) restrictions in some markets during the early part of the year. This included no retail activity for almost the entire H1 2021 period in Italy.
For B2B, revenue climbed 12.0% year-on-year to €554.3m, with Playtech highlighting growth in Mexico, Poland, Italy, Greece and The Netherlands in particular.
However, the business said further growth in this part of the business was stunted by the decrease seen in Germany due to regulatory changes, while it also reported declines in the UK market.
Potential acquisition of Playtech by TTB
Looking ahead, talks over the potential acquisition of Playtech by TTB Partners are ongoing. TTB made an approach over a possible takeover in February, with Playtech agreeing to release TTB from certain restrictions to allow it to form and potentially make an offer.
Playtech said it had agreed to the request but warned that there was no guarantee this would lead to an offer. The tech giant also said it would likely be the case that any offer from TTB would be made in cash.
There is currently no deadline for any potential offer from TTB.
Source: Playtech posts €112.3m net profit in 2021 ahead of potential TTB acquisition / iGB
