Playtech shares surged close to 18% on July 9, 2026, following a trading update confirming the business is significantly exceeding analyst expectations for H1.
The supplier’s trading update estimates its adjusted EBITDA for H1 will land at over €155m, with full-year guidance set at a minimum of €270m.
That full-year figure would represent a 37% year-on-year increase, surpassing Peel Hunt’s previous upper range forecast for the period by €45m.
Analysts at Peel Hunt, Ivor Jones and Douglas Jack, attributed the 20% over-performance to Playtech’s “strong foundations” and flagged significant remaining upside for investors.
Before the update was published, Playtech closed at £3.20 on the London Stock Exchange, climbing to £3.77 during the session after earlier hitting a peak of £3.84.
Peel Hunt reiterated its Buy rating on the company and set an aggressive target price of £6.90, suggesting the market has significantly undervalued Playtech’s worth.
Playtech’s B2B supply deal with Hard Rock Digital in Florida has emerged as a standout growth driver throughout 2026, concentrated around its Past Motor Racing slots-style product.
Past Motor Racing launched in October 2025 and quickly became a major revenue contributor, with CEO Mor Weizer also pointing to momentum across Mexico, Colombia and certain European markets.
Weizer said: “We are delighted to see returns on our investments over recent years accelerate and contribute significantly to profitability and cash flow.”
Brazil has been flagged as a significant future growth opportunity, with Playtech making substantial investments in the country ahead of a launch expected to begin delivering returns in 2027.
Peel Hunt has revised its 2026 full-year EBITDA forecast upward to match Playtech’s €270m guidance but has left its 2027 estimate unchanged at €238m.
Jones and Jack stated they want to “wait for greater clarity to emerge” before adjusting longer-term projections, citing uncertainty around Playtech’s optimism regarding the Brazilian market.
Playtech itself has also tempered expectations around its PMR product, noting that it benefitted “materially from being first to market” and that “revenue with the operator will continue at a lower but more sustainable level.”
Peel Hunt responded positively to what it described as “prudent guidance,” adding that there are “more nuggets to come” as Playtech continues advancing across multiple business fronts.
Playtech’s full interim results for the period spanning January 1 to June 30, 2026, are scheduled to be published in full on September 10, 2026.
