Report
Playtech : New markets but also new problems
Playtech has become a pure B2B player since the sale of Snaitech. Despite having net debt close to zero, the issuer is still at the bottom of the BB ratings. There are many headwinds, including a less lucrative contract with CaliPlay, higher taxes in the UK, and a major ongoing dispute with Evolution. On the other hand, Playtech still has very good growth prospects, particularly in new markets, and a satisfactory cash generation profile, which should enable it to return to the primary market in the coming months.
Underlying
Playtech plc
Provider
Oddo BHF
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
Joan Sehim
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