Playtech sees 2020 ahead of expectations as lockdowns boost gaming

(Reuters) – Gambling software maker Playtech said on Tuesday it expects 2020 annual performance to be ahead of expectations, driven by its financial trading arm, and casino, poker, bingo and betting businesses.

Online betting has enjoyed a boost as COVID-19 restrictions encouraged locked-down customers to play more from home when casinos and betting shops are off limits.

Playtech, the world’s biggest supplier of technology for online gaming operators, expects adjusted core earnings to be at least 300 million euros ($364.77 million) for the year ended Dec. 31.

The Isle of Man-based company said its core B2B business, including casino, bingo and poker, performed very well in 2020 and its gambling unit Snaitech had a strong performance online, with retail hit by lockdown measures and the cancellation of sports events.