Investors bet big on gambling platform Playtech
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Investors backed Playtech this morning after the gambling software maker lifted its profit forecast for the year just gone.
The group, which supplies software and games to clients including Ladbrokes and William Hill, benefited from the boom in online gambling during the lockdowns, which more than offset headwinds from the closure of high street bookmakers.
Tradetech, its financial trading business, also enjoyed “a very strong 2020”, particularly in the first half, when markets were at their most volatile in the wake of the coronavirus crash.
As a result, bosses expect that underlying profits for last year will come in at “at least €300 million”. Before the update, City analysts had been forecasting something closer to €286 million.
