Asian headwinds hammer Playtech 2017 revenue

Net revenue of British gaming and spread betting company Playtech Plc. hit a break in 2017 due to the strong operational headwinds in Asia.

In a regulatory filing, Playtech announced on Thursday that the company’s net revenue grew 18 percent to €807.1 million ($991.9 million) in the 12 months ending December 31, 2017, from last year’s €708.6 million ($870.87 million). Meanwhile, adjusted earnings before interest, tax, depreciation and amortization also rose 11 percent to €322.1 million ($395.86 million).

Playtech’s modest, double-digit gains in 2017, however, paled in comparison with the 20 percent net revenue growth rate that the company achieved in the prior year period.

Nevertheless, Playtech Chairman Alan Jackson was quite satisfied with the financial results, noting that latest figures were in line with the revised growth expectations in November.