Updates

Playtech

September 2020

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.

Ahead of reporting on 17 September, Playtech’s trading update shows its run rate EBITDA is picking up. For H1 20 to end June, €160m EBITDA is now guided EBITDA and Playtech says that July “approached normalised levels” - ‘normalised’ infers c€30m per month, says broker Jefferies, which is what it was making in FY19.In addition, the broker notes that consensus is at €281m EBITDA for FY20, so this only leaves a €120m bridge for H2 20 - so there is scope for a big “beat.” The broker notes that rival Evolution Gaming’s proposed merger with NetEnt values NetEnt at 20x EV/EBITDA versus c.6x for Playtech. Buy. ...

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Alliance Pharma

Gattaca

Playtech - Upgrades its 3-5 year target (April 2023)

Playtech - Trading ahead of expectations (October 2022)

Playtech - Bid at 680p; gain 127% (November 2021)

Playtech (October 2021)

Playtech (February 2021)

Playtech - Q1 20 was best quarter on record (August 2020)

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