Playtech Flags Ukraine Hit, Profits Jump

Gambling software company Playtech Plc reported a 25% jump in annual earnings this month that also surpassed its expectations, and said it may have to write off some assets in Ukraine.

“The macro-economic picture is of course uncertain, but we have started 2022 strongly,” said Mor Weizer, Chief Executive Officer of Playtech Plc, as the firm tries to minimize the damage to its business from the crisis in Ukraine, where it employs over 700 employees.

Analysts at Peel Hunt said Playtech’s annual results were better than expected but they remained cautious over the potential impact of the Ukraine conflict and UK regulatory changes.

The company reported an adjusted core profit of $348.14 million for the year ended December 31st, compared with $286.35 million in 2020.

(All information was provided by U.S. News & World Report)

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