The progress on balance sheet efficiency coupled with the Group's continued levels of cash generation has allowed the Playtech Board to introduce greater flexibility into its shareholder returns policy by transitioning to a balance of dividends and share buy-backs. In H1 the Group successfully completed a €40 million share buyback programme and the continued strong performance of the core business and confidence in further progress in 2019 has allowed the Group to launch a further €25 million buyback programme and declare an interim dividend of 6.1€ cents a share.
Other financial highlights include:
Core B2B Gambling revenue growth of 9% in regulated markets versus H1 2018
Revenue growth and strong cost control drives Core B2B Gambling margin of 29% (H1 2018: 19%, H1 2018 restated to include impact of IFRS 16: 24%)
Snaitech is the Group's standout performer in H1 with 26% growth in adjusted EBITDA (from €59.3 million in H1 2018 after excluding gambling tax headwinds and 2018 World Cup impact, to €74.7 million in H1 2019)
Total shareholder returns increased 15% vs. H1 2018 including €25 million share buyback and interim dividend declared of 6.1 €c per share
Land sale agreed in Italy for €55 million, pending approvals; €5 million received in July 2019
€350 million bond raised in H1 2019 securing long term financing requirements
