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Authoritative Independent Monthly Share Selections Using Technical & Fundamental Analysis

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Playtech - Jefferies ups price target by 50p to 620p

October 2019

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

  • Epic Code:
  • PTEC
  • Price:
  • 437p
Gaming software group Playtech’s results for the half year to 30 June were in line with expectations with sales up 68% to Eu736m while EBITDA grew 31% to Eu191m.On the B2B gambling division, comprising the original software business serving websites in the casino, poker, sports book and lottery markets, revenues fell 9% to Eu265m and EBITDA 11% to Eu110m, reflecting further declines in its struggling Asia business where the large but unregulated Chinese market has seen increased competition. Sports betting grew 26% to Eu60.6m while casino fell 24% to Eu130m.  On the B2C side, revenues rose 345% to Eu438m and EBITDA 1506% to Eu72m (ahead of Jefferies forecast of Eu66m) reflecting the first time contribution from Ita ...

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With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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