Playtech Raises 2026 Adjusted EBITDA Guidance Above €300m on Americas Strength but Warns of 2027 Contraction

Playtech has raised its adjusted EBITDA guidance for 2026 to more than €300 million. The London-listed supplier cited outperformance in the Americas, led by its Past Motor Racing product supplied through Hard Rock Digital. A trading update covering 1 July to 31 October showed results ahead of expectations.

The new target exceeds the range of €271 million to €285 million projected by seven analysts after the half-year results. First-half revenue rose 10 percent to €425.1 million. Adjusted EBITDA increased 77 percent to €162.5 million, with US and Canada revenue up more than 160 percent year on year.

Americas Momentum Repeatedly Lifts Forecasts

Earlier forecasts had projected first-half adjusted EBITDA above €155 million in July. The September half-year results placed the full-year figure on track to exceed €270 million. Chief executive Mor Weizer attributed Latin American support to post-tournament conditions, stating "Mexico and Colombia have benefitted from tailwinds after the Men’s FIFA World Cup."

The US first-to-market position in Past Motor Racing supplied to Hard Rock Digital drove the bulk of the uplift. Latin America added further support. The company itself anticipates that this leading position will weaken as additional PMR suppliers enter the market.

The 2027 Headwinds

Rivals are expected to claim a larger share of Playtech's PMR wallet in 2027. The UK’s November 2025 Budget raised online casino duty, with a new 25 percent rate for remote betting under General Betting Duty effective from April 2027. A full year of these elevated costs will hit 2027 alongside increases in other European markets.

Brazil presents the largest uncertainty. Betting platforms went offline from 6 October, with existing authorisations ending on 25 October. Playtech expects to absorb three months of lost adjusted EBITDA in 2026 but warned of a materially larger impact in 2027 if the shutdown continues. Brazil’s Congress must address the provisional measure by 23 November or face an automatic 60-day extension.

@selfside_uk posted on X: "Playtech Plc $PTEC.L's trading update raised FY26 adjusted EBITDA guidance to over €300m, 7.5% above consensus. The note reads it as strong for 2026 but not enduring: FY27 consensus sits 11.3% below the new guidance floor, with management flagging 2027 headwinds."

The analyst average for 2027 already sits below the upgraded 2026 floor. According to reporting by Casino Beats, these factors combine to signal a peak year in 2026 followed by contraction. Operators and suppliers must track the Brazilian legislative timeline and UK tax implementation as binding variables for 2027 planning.