{"id":1728,"date":"2020-08-21T12:46:12","date_gmt":"2020-08-21T16:46:12","guid":{"rendered":"https:\/\/bestcasinos.co.nz\/?p=1728"},"modified":"2020-09-06T12:57:14","modified_gmt":"2020-09-06T16:57:14","slug":"playtech-revels-in-2020-casino-growth","status":"publish","type":"post","link":"https:\/\/bestcasinos.co.nz\/playtech-revels-in-2020-casino-growth\/","title":{"rendered":"Playtech revels in 2020 casino growth"},"content":{"rendered":"
Playtech\u2019s strong performance in the first half of 2020 has been a testament to the organisation\u2019s dynamic management and growth acceleration in its online casino vertical. An adaptive organizational approach allowed the company to secure the preservation of its cash flow and allowed it to boost liquidity in a time of profound adversity for the casino industry.\u00a0 The year\u2019s challenges have resulted in an adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization) for the business of \u00a0\u20ac160 million or approximately $189 million for the first half of the year.<\/p>\n
Management matters<\/strong><\/p>\n Despite the hard-knock that Playtech\u2019s B2B sector took due to the suspension of live sporting events and the shuttering of casinos and retail outlets in response to the global health crisis, the brand maintains a positive outlook for the remainder of the year.\u00a0 The organization credits this success to increased market volatility and a subsequent uptick in trading which yielded a positive outcome for its TradeTech division coupled with an upswing in its online business. Playtech\u2019s<\/a> Bingo, Poker, and online casino operations all experienced growth in the first half of the year.<\/p>\n The winds of fortune are only a small component in the business\u2019 overall positive performance, with its management strategy being hailed as the keystone of its success.\u00a0 The company\u2019s dynamic response allowed it to effect changes to maximize its available liquidity to over \u20ac600 million. This profound reaction included a flurry of early-response measures designed to protect the business, including holding on to shareholder distributions from 2019, which netted the brand \u20ac65 million in cash.<\/p>\n The unbanning of live sports and the re-opening of a large percentage of the company\u2019s land-based and retail operations spurred on its positive performance for 2020.<\/p>\n